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Industries Qatar Proposes 36% 2014 Dividend Cut

Industries Qatar Proposes 36% 2014 Dividend Cut

The company recommended a a cash dividend of 7 riyals ($1.92) per share for 2014.

Industries Qatar (IQ), the Middle East’s second-biggest petrochemicals company, said on Thursday its board had recommended a cash dividend of 7 riyals ($1.92) per share for 2014.

The proposal equates to a 36 per cent cut on the 11 riyals which it paid for 2013, according to Thomson Reuters data.

Saudi Basic Industries (SABIC), the largest petrochemicals firm in the region, held its dividend at 3 riyals ($0.80) for the second half of 2014, according to a December 17 bourse filing.

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