VOL. XLVII

No 12

22-March-2004

SAUDI ARABIA

CAPITAL MARKETS

SABIC Board Recommends $960Mn Dividend

The Board of Directors of Saudi Basic Industries Corporation (SABIC) has recommended that a dividend of SR3,600mn ($960mn) be paid to company shareholders at SR12 ($3.20) per share. The proposal will be presented at the annual general assembly of shareholders on 17 April. The substantial dividend, which is much larger than the SR1,500mn ($400mn) paid to shareholders last year, follows the companys...