By Mohamed Idries

Riyadh – Mubasher: The board of Hail Cement Co. (HCC) recommended distributing SAR48.9 million as cash dividends for H2-15 at SAR0.5 per share or 5% of its par value.

This amount represents 103% of the company’s H2-15 profits that recorded SAR47.4 million.

In the fourth quarter of 2015, the company gained SAR29.9 million, while SAR17.4 million was profited in the third quarter.

Shareholders of record till the close of trading day, in which the ordinary general meeting will convene, will be eligible for the cash dividends.

The company’s Q4-15 dropped 27% to SAR29.9 million from SAR40.8 million.