VOL. XL

No. 14

7-April-1997

SAUDI ARABIA

SABIC To Pay Out $667Mn In Dividends For 1996; FurtherPrivatization In View

Shareholders of the Saudi Basic Industries Corporation (SABIC)have approved a proposal by SABIC's board to distribute SR2.5bn ($667mn) in dividends for1996 at the rate of SR25 ($7) per share. The shareholders met on 30 March and approved the1996 audited results. The distribution of dividends is going ahead despite a 30% fall innet income to SR4.412bn ($1.18bn) in 1996 from...