Saudi International Petrochemical Company (Sipchem) said on Sunday its board has proposed paying a dividend for the second half of 2014 worth SR0.65 ($0.17) per share.

The proposal is pending the approval of shareholders, Sipchem said in a statement on the Saudi bourse website.

Sipchem's proposed dividend is in line with what it paid in the corresponding period of 2013, according to Thomson Reuters data.

The company made a profit of SR160.6 million ($42.7 million) in the three months to September 30, down from SR185.2 million ($49.3 million) in the prior-year period. – TradeArabia News Service