Arabian Cement’s board of directors has proposed a cash dividend of 1 riyal per share for the first half of the year.
The Saudi-listed cement manufacturer said in a statement on Tadawul that the board has recommended the distribution of cash dividends worth 100 million Saudi riyals ($26.67 million).
The company reported a quarterly net profit after zakat and tax of 7.6 million Saudi riyals for Q2 2020, compared to 37.3 million Saudi riyals in Q2 2019.
The cement company posted a revenue of 139.6 million Saudi riyals in the second quarter of 2020, compared to 164.6 million Saudi riyals in Q2 2019.
The group works in cement and ready-mix business inside and outside the kingdom.
(Writing by Gerard Aoun; editing by Seban Scaria)
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