VOL. XLVII

No 17

26-April-2004

ENERGY FINANCE

SABIC To Pay $960Mn Dividend To Shareholders

After obtaining the approval of its general assembly in Riyadh on 17 April (MEES, 22 March), Saudi Basic Industries Corporation (SABIC) announced that it would pay out a dividend of SR3,600mn ($960mn) or SR5 per share, representing 24% of the companys capital, to shareholders on 1 May. The large dividend payment follows the companys announcement of a record SR6.696bn ($1.79bn) profit for 2003 (MEES, 2...