The board of directors of Advanced has approved the distribution of dividends cash by 5.5% for the fourth quarter

The board of the advanced petrochemical company has approved the distribution of dividends in cash to the company’s shareholders for the fourth quarter of the year 2022, at a rate of 5.5% of the par value of the shares per share.

Total distribution was 142.5 million riyals, including 259.2 million shares in circulation.

The share per share from the distribution amounts to 0.55 riyal.

Eligibility belongs to shareholders holding shares at the end of the market on the eighteenth day of May 2023 AD and registered in the company’s shareholders’ register at the Depository Center at the end of the second trading day following the expiry date.

The release date will be May 28, 2023 AD

The company noted that the decision on future dividends will take into account future expansions and projects to complete the strategic growth plan of the company and its subsidiaries.

And “Advanced Petrochemical” said that as far as non-UK resident investors are concerned, profits paid to them by the company will be subject to a 5% withholding tax when those profits are transferred or deposited into their bank accounts, in compliance with the provisions of article (68) of the income tax system and article (63) of its regulation.