Yanbu Cement to pay higher dividends

Yanbu Cement to pay higher dividends
Published: 11 August 2006

Saudi cement producer, Yanbu Cement Company (YCC), will pay a cash dividend of 52.5 mln Saudi riyals (US$14m) for the first half of 2006, the company said on August 10, 2006. The dividend equals 0.5 riyals ($0.133/0.104 euro) per share and will be paid through the branch network of the National Commercial Bank.

YCC registered an increase in net profit to 154.1 mln riyals ($41.1m) for the second quarter of 2006, up from 110.2 mln riyals ($29.4m) a year ago. Net profit for the first half of the year rose 28 per cent year-on-year to 275 mln riyals ($73.3m).

In early June 2006, YCC also said it plans to install a fifth production line with a daily capacity of 10,000 tonnes.