Saudi’s Jarir Marketing proposes lower Q2 dividend

Dubai: The board of Jarir Marketing, one of Saudi Arabia’s largest retailers by market value, has proposed paying a cash dividend of 1.25 riyals per share for the second quarter of 2016, it said in a statement on Sunday.

The company paid shareholders a 1.46 riyal dividend for the corresponding period of 2015.

Jarir’s first-quarter net profit dropped 29.5 per cent from the previous year, missing analysts’ forecasts.