Arab Potash Co. to distribute JOD83mln in cash dividends

Amman, Arab Potash Company (APC) will be distributing JOD83 million in cash dividends (equivalent to 100pct of the company’s capital) to shareholders following a 44-percent shot in the company’s net profit in 2017.

This was announced during a general assembly meeting held on Wednesday. APC President/Chief Executive Officer Brent Heimann said the global potash market rebounded in 2017 pushing the company’s net profit (after tax, provisions and mining fees) to JOD90 million, 44 percent higher than the figure recorded in 2016.

He said the firm and its associates injected a staggering $845 million in the Kingdom’s foreign currency reserves. Furthermore, Heimann indicated that the company achieved a record potash sales volume of 2.36 million tons in 2017, up by 16 percent compared with 2016.

Source: Jordan News Agency