Saudi Cement trims proposed first-half dividend

Dubai: The board of Saudi Cement has proposed paying a cash dividend of 2.75 riyals per share for the first half of 2016, the firm said in a bourse statement on Wednesday.

This is marginally lower than the 3 riyals per share payout for the same period in 2015.

Saudi Cement, one of the kingdom’s largest cement firms, earlier posted a 13 per cent drop in first-quarter net profit, which was broadly in line with the average forecast of analysts.