Arabian Aramco Total Services Co. on Monday said that shareholders of its parent company, Saudi Aramco Total Refining and Petrochemical Co. (SATORP), on July 9 approved the distribution of SAR 450 million cash dividend for fiscal year 2017.

 

The amount shall be paid on two tranches: the first shall be distributed during July at a total amount of SAR 337.5 million, while the second during October worth SAR 112.5 million.

 

The company noted that the shareholders have reserved the right to distribute a third tranche of SAR 112.5 million during December, depending on SATORP cash liquidity position, which If resolved, would make total SATORP's dividend distribution for FY 2017 SAR 562.5 million.

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