Saudi’s SAFCO halves dividend for first half of 2016 on market conditions — statement

Dubai: Saudi Arabia Fertilizers Co (SAFCO) will distribute a cash dividend of 1.5 riyals (Dh1.46, $0.40) per share for the first half of 2016, the company said in a statement on Sunday.

The amount was down from the cash dividend of 3 riyals per share the company paid out in the same period of last year.

SAFCO, a unit of Saudi Basic Industries Corps (SABIC), blamed low prices and challenges in global markets for the lower dividend.