Sipchem will pay 15% of capital as dividends for H2-22 in Saudi Arabia

The board of Sahara International Petrochemical Company (Sipchem) decided to pay out cash dividends totaling SAR 1.08 billion for the second half (H2) of 2022, or 15% of the capital.
The Saudi firm will disburse SAR 1.50 per share for 725.12 million eligible shares, according to a bourse disclosure.
Meanwhile, the eligibility and distribution dates for the H2-22 dividends will be on 5 and 15 December, respectively.
In the first nine months (9M) of 2022, Sipchem reported net profits after Zakat and tax worth SAR 3.11 billion, a 37.23% year-on-year (YoY) leap from SAR 2.27 billion.
In 9M-22, the company’s revenues increased by 23.80% to SAR 8.54 billion from SAR 6.89 billion, while EPS increased to SAR 4.30 from SAR 3.12 in 9M-21.