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Yanbu Cement endorses SAR3.5/shr dividends

Yanbu Cement endorses SAR3.5/shr dividends
H2-15 Cash dividends to be distributed from the first of May
YCC
3060
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Riyadh – Mubasher: The extraordinary general meeting of Yanbu Cement approved yesterday paying out cash dividends at 35% of capital, or SAR3.5 per share, for the second half of 2015.

Shareholders of record till the end of trading on the ordinary meeting would be entitled to receive the dividends starting from the first of May through Al-Ahli Bank, the company said in a bourse filing.

The company operates with a paid-in capital of SAR1.6 billion, distributed over 157.5 million shares at a face value of SAR10 each.

In the first half of 2015, the company distributed dividends at 15% of capital, or SAR1.5 per share, totaling SAR236.25 million.

Meanwhile in the second half of 2014, the company approved dividend payout at 25% of capital, or SAR2.5 per share.

In 2015, the company reported a slight rise in net profits by 0.5% year-over-year to SAR806 million from SAR802 million.