The Board of Directors of the Advanced Petrochemical Company, after reviewing the company’s financial and operational performance, agreed to distribute cash dividends to the company’s shareholders for the fourth quarter of 2021, at a rate of 6.5%.
The value of the total distributed amount is 140.7 million riyals, over the number of shares entitled to dividends of 216.47 million shares.
The applicant stated in a statement published on the Saudi market’s website “Tadawul”, that the share of the share from the distribution is 0.65 riyals.
The eligibility date will be for the shareholders owning the shares at the closing of the market on the tenth day of February 2022 AD and those who are registered in the company’s shareholders register at the Depository Center at the end of the second trading day following the due date, and the distribution date will be on February 20, 2022 AD.
The profits of the Advanced Petrochemical Company increased by 39.74% in the third quarter of this year, to 218 million riyals after zakat and tax, compared to about 156 million riyals, profits for the same quarter of 2020.
Advanced profits decreased by 17.7% in the third quarter of 2021, compared to profits of 265 million riyals in the second quarter of 2021.
The company attributed the increase in profits in the third quarter of 2021, on an annual basis, mainly to the increase in sales prices of the polypropylene product by 47%.