Sidi Kerir To Distribute Dividend of EGP 1.55/Share

Sidi Kerir Petrochemicals Co. – SIDPEC (SKPC.CA)’s Board of Directors has declared dividend no. 10 of EGP 1.55 a share starting from April 29th 2012, to the holders who would buy shares before the ex-dividend date which will be by the end of the closing session of Monday April 23, 2012.

The dividend shall be distributed through the MCDR’s accredited centers. This comes after the SKPC’s ordinary general assembly, held on April 1st, agreed to raise the value of this dividend from EGP 1.45 to EGP 1.55 a share through the gains posted during the fiscal year ended on December 31st, 2011.

The company posted net profits of EGP 889.689 million in 2011, higher 8.4%, noting that the net profits achieved during the same comparable period of 2010 valued at EGP 821.003 million.

Sidi kerir’s issued capital amounts to EGP 525 million distributed to 1.050 billion securities within a par value of EGP 2 a share.

Sidi Kerir Petrochemicals Co.-  SIDPEC is an Egyptian joint stock company established on 16th November 1997 under the Egyptian Investment Law.  SIDPEC is the pioneer in Ethylene and Polyethylene production, actually it is considered to be the first integral step towards the future of Petrochemicals’ Industry in EGYPT.

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