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Saudi’s Sipchem Says Proposes Dividend Of SAR0.65 For H2 2014

Saudi’s Sipchem Says Proposes Dividend Of SAR0.65 For H2 2014

Sipchem’s proposed dividend is in line with what it paid in the corresponding period of 2013.

Saudi International Petrochemical Co (Sipchem) said on Sunday its board has proposed paying a dividend for the second half of 2014 worth SAR0.65 ($0.17) per share.

The proposal is pending the approval of shareholders, Sipchem said in a statement on the Saudi bourse website.

Sipchem’s proposed dividend is in line with what it paid in the corresponding period of 2013, according to Thomson Reuters data.

The company made a profit of SAR160.6 million in the three months to Sept. 30, down from SAR185.2 million in the prior-year period.

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