The Saudi Basic Industries Company (SABIC) approved the distribution of 900 million Saudi riyals ($240 million) in dividends to the company’s shareholders for 2001, which is equivalent to three riyal earnings per share, reported Al-Hayat. The company’s output hit 35 million tons during the same period, of which 27 million tons was purchased. The company’s turnover hit 29 billion riyals last year.
Saudi giant SABIC, established in 1976, has 18 factories throughout the kingdom, producing mainly petrochemicals. It has a paid-up capital exceeding four billion dollars and total assets of more than $21 billion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
