Mubasher: The board of Sharjah Cement and Industrial Development held a meeting on Saturday, recommending a cash dividend of 8% for fiscal year 2016, according to a bourse statement issued on Sunday.

The board members proposed distributing 8 fils per share for the fiscal year, with an overall value of AED 44.24 million.

Sharjah Cement, which is listed on both the Abu Dhabi Securities Exchange (ADX) and Boursa Kuwait, will hold its ordinary general meeting on 15 April to discuss the proposed dividend payout.