Sidi Kerir To Distribute Cash Dividends For Today’s Shareholders

Sidi Kerir Petrochemicals Co. – SIDPEC (SKPC.CA) declared cash dividends no. (10) of EGP 1.55 per share payable on 29/04/2012.

Shareholders as of (today) closing session of 23/04/2012 are entitled to cash dividends distribution.

The cash dividends 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.