Saudi cement producer Qassim Cement Co (QCC) approved at a general meeting on Sunday a cash dividend payment of SAR270m (US$72m), or SAR 3 per share, for the second half of 2014.

The total dividend for 2014 stands at SAR6/share, or SAR540m, as QCC has already paid a dividend of SAR270m for the first half of 2014.

The company booked a net profit of SAR563.6m for the 12 months to December 2014, a decrease from SAR585m a year earlier.