Advanced shareholders to vote on dividend in March

Advanced Petrochemical Co.’s shareholders will vote on the board’s proposal for a 7 percent cash dividend, to be issued at SAR 0.70 per share for Q4 2018 on Mar. 19, 2019, the company said in a bourse statement on Monday.

The dividend will total SAR 137.8 million, and will be distributed to eligible shareholders registered at the Security Depository Center on the second day following the meeting date.

Shareholders will also approve the distribution of cash dividends for the first, second and third quarters of 2018 at a total value of SAR 413.3 million, or SAR 2.1 per share.   

The general assembly will vote on board remuneration at SAR 200,000 for each board member and the discharge of board members from liability for previous year.

The board report, financial statements and external auditor’s report for the fiscal year 2018 will be also reviewed. 

Advanced Petrochemical will also hire an external auditor for the current fiscal year.