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Saudi Cement’s Board Recommends Smaller Dividend For H2 2014

Saudi Cement’s Board Recommends Smaller Dividend For H2 2014

Saudi Cement, the Kingdom’s largest cement company by market value, reported an 8.9 per cent rise in Q4 net profit.

Saudi Cement’s board has recommended a dividend of SAR2.5 ($0.67) per share for the second half of 2014, the company said in a statement on Sunday.

The dividend is down from the SAR3.5 per share paid out for the second half of 2013, according to Thomson Reuters data.

Saudi Cement, Saudi Arabia’s largest cement company by market value, last month reported an 8.9 per cent rise in fourth-quarter net profit to SAR269 million, beating analyst forecasts.

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