Qassim plans SAR202.5m 1H dividend, Saudi Arabia

Qassim plans SAR202.5m 1H dividend, Saudi Arabia
Published: 28 June 2010

Saudi Arabia’s Qassim Cement Co said on Saturday its board has decided to distribute SAR202.5m (US$54m) in dividends for the first half of 2010 at the rate of SAR2.25 a share.

The cement producer said in a statement posted on the Saudi bourse website that the dividend represents 22.5% of its paid-up capital.

Shareholders who will be registered at the local bourse on July 28 will be eligible for the dividend, Omar Al Omar, the company’s general manager said.

Qassim Cement reported in April a 4.2% drop in its first quarter net profit to SAR145.2m compared with the year earlier period, according to Zawya.com data.