SABIC
board recommends distribution of SR3,600 million for shareholders
at SR12 per share
Posted: 16 March 2004
Riyadh, Saudi Arabia (March 15, 2004): The Board of Directors of
Saudi Basic Industries Corporation (SABIC) has recommended payment
of SR 3,600 million (US$ 960 million) to company shareholders at
SR 12 per share. The recommendation will be presented at the annual
general assembly of shareholders on 17 April 2004.
Commenting on the announcement, Prince Saud bin Thunayan Al-Saud,
Chairman of the Board, said that SABIC had enhanced its performance
at all levels including training and development of human resources;
development of research and technology; quality assurance; industrial
security; environmental and vocational safety; consolidation and
development of business regulations; and community relations. He
added that SABIC had commenced the implementation of several expansion
projects and new productivity programs, with the objective of reaching
its targeted 45 million tons annual capacity in 2004, and 60 million
tons per annum by 2008.
More more information see www.sabic.com
Posted by Richard Price,
Editor Pipeline Magazine
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