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Saudi Retailer Jarir Marketing Says Board Proposes Lower Q2 Dividend

Saudi Retailer Jarir Marketing Says Board Proposes Lower Q2 Dividend

Cash divident is lower than the SAR1.70 per share which the firm paid for the corresponding period of 2013.

Saudi Arabian retailer Jarir Marketing said in a bourse filing on Wednesday that its board was recommending a cash dividend of SAR1.20 per share for the second quarter of 2014.

That is lower than the SAR1.70 per share which the firm paid for the corresponding period of 2013.

Last week, Jarir posted a 7.1 per cent increase in second-quarter net profit on back of higher sales.

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