Saudi Basic Industries Corp. (SABIC) announced interim cash dividends of SR4.5 billion ($1.19 billion) for the first half of 2025, equal to SR1.50 per share. Eligible shareholders as of Aug. 19 will receive payments on Sept. 9.
The move comes despite reporting a net loss of SR4.07 billion in Q2, highlighting SABIC’s financial resilience. Gross profit dropped 38.5% to SR4.42 billion, impacted by lower selling prices and impairment charges related to the closure of a UK facility.
SABIC’s revenue for Q2 was SR35.57 billion, down 0.4% year-over-year. For H1, revenue rose 3% to SR70.16 billion, while net losses totaled SR5.28 billion. However, adjusted EBITDA surged 40% quarter-over-quarter to SR5.22 billion.
CEO Abdulrahman Al-Fageeh reaffirmed SABIC’s balanced capital strategy, saying: “We remain committed to long-term value creation despite market challenges.”
Operational highlights included the completion of 95% of a new MTBE plant in Jubail, the introduction of 58 new products, and the deployment of 490 AI models to enhance efficiency and reduce emissions. SABIC also earned multiple global awards for excellence and sustainability.
The company is reviewing a potential IPO for subsidiary National Industrial Gases Co. to streamline operations.
As of midday trading, SABIC shares declined 1.65%.