Riyadh – Mubasher: The board of Saudi Cement Co has recommended the distribution of SAR 1.5 per share in cash dividends for the first six months of 2019.

Total proposed dividends amounted to SAR 229.5 million, according to a statement released by the Saudi Stock Exchange (Tadawul) on Wednesday.

“Entitlement to dividends shall be to shareholders at the close of market on Wednesday 12 June 2019, and as per the registers of the Securities Depository Center at end of the second trading day following the entitlement day,” the statement added.

The payment of dividends, by Riyad Bank, will start on Tuesday 2 July.

Saudi Cement reported a 6.9% year-on-year net profit decrease during the first quarter of 2019, recording SAR 132.4 million.