VOL. XLIII

No. 15

10-April-2000

SAUDI ARABIA

SABIC Recommends SR500Mn Dividend

Following the announcement of profits of SR1.911bn ($509.5mn) for 1999, 5.7% lower than the previous year, the board of directors of Saudi Basic Industries Corporation (SABIC) announced on 3 April that it had recommended a dividend totaling SR500mn ($133mn). The payment constitutes a rate of SR2.5 ($0.6) per share. SABICs board also recommended the distribution of one bonus share for every three held and that the...