Saudi Basic Industries Corp (SABIC) shareholders approved a cash dividend for 2008 of 3 riyals ($0.80) per share, the company said in a statement on the bourse website.
Saudi Arabia’s largest company by market value also agreed to transfer 10 percent of 2008 profit into ordinary reserves and place the remainder into general reserves, SABIC said.
The 2008 dividend comprises 1.25 riyals ($0.33) for the second half of 2008 and 1.75 riyals (0.47) per share for the first half, it added. (Reuters)
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