Riyadh – Mubasher: Najran Cement Company’s board of directors recommended on Wednesday cash dividend sat SAR 0.60 per share (6% of the stock’s par value) for the first half of 2016, totalling SAR 102 million.
The dividend eligibility will be for shareholders registered by the end of trading on 19 May. The distribution date will be announced late, according to a bourse filing.
The company earlier posted a net profit of SAR 61.08 million in the first quarter of fiscal 2016, 33.6% down from SAR 92 million in Q1-15.
Najran Cement, ordinary general meeting (OGM), on 29 March, approved to distribute cash dividends at SAR 0.5 per share (5% of the capital) for the first half of fiscal 2015, totalling SAR 85 million.
The stock closed yesterday at SAR 14.05 after rising 3.31%.
