Saudi retailer Jarir says board recommends 1.83 riyal first quarter dividend

Dubai: Saudi Arabian retailer Jarir Marketing said in a bourse filing on Thursday that its board was recommending a cash dividend of 1.83 riyals (Dh1.79, $0.49) for the first quarter of 2014.

The figure is slightly higher than the 1.60 riyals per share that the firm paid in the corresponding period of 2013, according to Thomson Reuters data.

Jarir posted an 11.3 per cent increase in first-quarter net profit earlier this month, although slower year-on-year sales growth meant the retailer marginally missed the average view of analysts.