Saudi's Jarir Marketing Co. to Distribute SAR138M in Dividends

Wednesday, Oct 17, 2012

RIYADH (Zawya Dow Jones)--Saudi-based Jarir Marketing Co. (4190.SA), the bookstore chain and computer distributer, said Wednesday it will distribute dividends to the value of 138 million Saudi riyals ($36.8 million) at SAR2.3 a share.

The dividend distribution represents 23% of the company's capital and comes as its 3Q net profit rose 5.1% reaching SAR160.7 million compared to the year earlier.

Jarir is "committed to its policy for distributing cash dividends to its shareholders supported by the good profits and strong cash position," said Abdulkarim Al Agil, chief executive officer, in a statement on the Saudi bourse website.

Jarir distributed cash dividends of SAR2.2 per share for the first quarter and SAR1.4 per share in second quarter of 2012 bringing the company's total cash dividends to SAR5.9 a share for the nine months ended Sept 30, it said.

Jarir shares are trading +0.3% at SAR156.50 in an overall positive market.

Write to Iman Dawoud at iman.dawoud@dowjones.com

(END) Dow Jones Newswires

17-10-12 0819GMT