Saudi Cement Co to pay US$0.53/share dividend

Saudi Cement Co to pay US$0.53/share dividend
Published: 23 June 2011

The management board of Saudi cement producer Saudi Cement Company (SCC) approved at a meeting yesterday a dividend of SAR2/share (US$0.53), or a total SAR306m payout, for the first half of 2011.

The dividend, representing 20% of the company’s paid-up capital, will be paid to shareholders of record at the close of business on July 6.

The cement producer registered a 19.4% YoY rise in its net profit for the first quarter of 2011, to SAR210.8m from SAR176.6m a year ago.