How much does SABIC distribute annual profits? – Our trade platform
How much does SABIC distribute annual profits?There are many leading companies in the Kingdom of Saudi Arabia, whose reputation is spread inside and outside the Kingdom, as they provide the best services for their fans and customers, and among the most famous of these companies is SABIC, which is considered one of the most famous companies in the Kingdom of Saudi Arabia and parts of the country. Al-Arabi, and this company specializes in chemical industries and polymers, and through our topic for today, we will know how much SABIC distributes annual profits.
About SABIC Saudi Arabia
The Kingdom of Saudi Arabia is known for the presence of high-level companies in it, and these companies support high-quality local industries that are exported to various countries of the world. Through our topic, we will discuss an overview of the Saudi SABIC Company:
- The Saudi SABIC Company, whose name means, according to what the poet and writer Ghazi Al-Qusaibi mentioned, is that its meaning in the Arabic language is from the word Al-Sabk, which means perfection, and in this name is an indication of the quality of the products of this Saudi company.
- SABIC is also located in the Kingdom of Saudi Arabia, specifically in the city of Riyadh, the Saudi capital, and it has branches in other industrial areas.
- SABIC attracts students, graduates, and anyone with skills and experience in the chemical industry.
- The company has a large number of employees, numbering twenty-two thousand employees, and they are present in the various branches of the company.
- We mentioned this information within our topic, how much SABIC distributes annual profits.
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How much does SABIC distribute annual profits?
SABIC is considered one of the most important and largest companies in the Kingdom of Saudi Arabia and even in the Middle East, specialized in selling and manufacturing chemical products using the latest methods and devices. Through our topic, we will know how much SABIC distributes annual profits:
- The higher authorities of SABIC have passed laws for how profits are distributed to the people who own shares within the company.
- These laws stipulated that profits be distributed at a rate of up to twenty-two percent of the nominal value of the shares, and SABIC, through the Tadawul website, which is famous for stock news and financial matters, has acknowledged that the total amount distributed is 6.75 billion riyals, and the number of shares entitled to dividends is 3 billion shares. .
- The company said that the share of the share from the distribution amounted to 2.25 riyals per share.
- The company was also interested in informing the shareholders who own shares of the promised date for the delivery of profits, which is the day of maturity for those registered in the company’s shareholder register at the Depository Center.
- The financial reports said that SABIC shares increased by 33% in the first quarter of 2023 to 6.47 billion riyals, compared to 4.98 billion riyals in the corresponding period of 2023.
- SABIC is one of the companies that achieve large profits during the year, and this matter reflects positively on the general price of shares.
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Sabic share price forecast today
The world of stocks is one of the most important matters related to the field of money and business and contains many details that all businessmen in the world are interested in, and one of the most important things that these people follow is the stock price, and through our topic we will learn about the expectations of SABIC share price today:
- Today, SABIC’s share price has reached eighty-four riyals, and this price is going down compared to the past days, but in general, SABIC’s share prices rise and fall according to the stock market and the general situation.
- The financial sources within the company also said that there is a decline in the company’s profits as a result of various reasons related to the company, and it reached 3.28 billion riyals in the last quarter of 2023, compared to operating profits of 7.7 billion riyals for the same quarter of 2023, a decline of 57.4%. .
- The figures related to revenues rose to 46.87 billion riyals in the third quarter of this year, compared to 43.7 million riyals for the third quarter of last year, an increase of 7.25%.
- At the level of the first nine months of 2023, the financial reports indicated that the company’s profits declined by 10.28% to 16.24 billion riyals, compared to profits amounting to 18.1 billion riyals for the same period last year.
- These details were all through our topic, how much does SABIC distribute annual dividends.
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When is SABIC 2023 dividend distribution
SABIC for Chemical Industries and Industrial Polymers is considered one of the most important companies that have achieved huge profits over the years since its inception, and this matter is due to its accuracy and perfection, and through our topic, we will answer the question of when will be the dividend of SABIC 2023:
- Information related to the company’s profits and the time of their distribution is one of the things that are difficult for the public to know, as the company distributes profits at the time it deems appropriate.
- It is difficult to know the time as the company has not yet distributed profits for the year 2023, and the company has not yet disclosed any information in this regard.
Advantages of SABIC
It is good to know the strategy followed by the company as it is known to provide the best products for customers, and thus follows three important things that made it one of the best companies: the strategic business unit for petrochemicals, the strategic business unit for agricultural nutrients, and the strategic business unit for specialized products.
This strategy has helped the company increase its profits to 7.93 billion riyals, compared to 7.64 billion riyals during the same period last year. As a result of these increases, products and quantities sold were sold at high prices, in addition to an increase in the company’s share of the results of associates and joint ventures.
There are matters in major companies related to shares and how to distribute them. It is agreed upon from the outset between the people who run the company or the so-called board of directors. Through our topic for today, we will answer the question of who is entitled to own shares in SABIC:
- The company’s laws say that all persons and citizens of the Kingdom of Saudi Arabia, citizens of the Gulf Cooperation Council countries, residents inside the Kingdom of Saudi Arabia, qualified foreign investors, and investors have the right to own their own shares in SABIC located in the Kingdom of Saudi Arabia.
- Note that the company carries out all the industries that it works to sell later in its own factories located in Jubail Industrial City and Yanbu City.
- Through our topic, how much SABIC distributes annual profits, we have to know that SABIC has a wonderful future vision that made it one of the most successful and developed companies in the Kingdom of Saudi Arabia, and it always strives for the best in the world of industries.
- Some SABIC reports showed that Aramco owns 70% of SABIC shares, and the remaining 30% is traded in the Saudi stock market.
Here we have come to the end of our titled topic How much does SABIC distribute annual profits?Through it, we learned about all the important matters related to SABIC Chemical Industries.