Saudi International Petrochemical Company (Sipchem) announced that its board of directors adopted a resolution to submit a recommendation to the general assembly for the distribution of dividends to shareholders for the second half of fiscal year 2012. The proposed dividend distribution amounts to SR275,000,000 and will be distributed at the rate of SR0.75 per share, representing 7.5 percent of nominal price of one share. Shareholders entitled to this distribution are those duly listed in Sipchem's register of shareholders at the close of the general assembly meeting scheduled to be held in March 2013. The date of distribution will be announced when general assembly approves the board recommendations. Sipchem had announced earlier the distribution of SR0.50 per share for first half of year 2012, which makes the total of dividends to be distributed for year 2012 at SR458,333,333, representing 12.5 percent of company capital at SR1.25 per share. – SG
