Riyadh – Mubasher: City Cement said that the dividends distribution for the second half of 2016 will start on 10 April.

Riyad Bank will manage the payout through a direct deposit to the shareholders’ accounts in the local banks, according to a bourse filing on Monday.

Earlier, the ordinary general meeting (OGM) of the company approved the distribution of cash dividends to shareholders for the second half of 2016.

The company will distribute 2.5% dividends or SAR 0.25 per share, totalling SAR 47.3 million.

The company generated net profits of SAR 215.04 million in 2016, a decrease of 11.1% from SAR 241.86 million in 2015.