Riyadh – Mubasher: Saudi Cement Company announced on Tuesday that its ordinary general meeting (OGM) will be held on 24 March.
The OGM will discuss the distribution of cash dividends at 30% of the capital or SAR 3 ($0.80) per share for the second half of the fiscal year 2015, the same of the second half.
Total cash dividends for 2015 reached 60% or SAR 6 ($1.60) per share.
The dividend eligibility will be for shareholders registered by the end of trading on the date due to be set for general meeting, according to a bourse filing.
The company’s paid-up capital amounts to SAR 1.53 billion ($407.96 million) distributed across 153 million shares with a nominal value of SAR 10 ($2.67).
Shareholders earlier approved cash dividends at 60% of the share’s par value or SAR 6 ($1.60) for the fiscal year 2014.
Saudi Cement’s net profit declined last year by 12.5% to SAR 940 million ($250.64 million) from SAR 1.07 billion 285.3 million) in 2014.
The company’s stock closed yesterday’s trading with a rise of 1.36% to SAR 67.75 ($18.06).
