RIYADH: Sahara International Petrochemical Co, or Sipchem, will distribute SR1.27 billion ($388 million) in dividends for the first half of 2022. The payout per share stands at SR1.75, with nearly 726 million shares eligible for dividends, the petrochemicals maker said in a bourse filing. The company had earlier reported a 162 percent increase in first-quarter profit to SR1.08 billion due to a higher share of profit from joint ventures. Last year, Sipchem distributed a full-year dividend of SR1.64 billion, equivalent to SR2.25 per share, which is considered the highest in the company"s history.