DUBAI, Feb 8 (Reuters) - Saudi Cement's 3030.SE board has proposed paying a cash dividend of 2.75 riyals ($0.73) per share for the second half of 2016, the company said on Wednesday.

This compares with a proposed dividend of 3 riyals per share for the prior-year period.

Saudi Cement, one of the kingdom's largest cement firms by market value, last month reported a 6.3 percent increase in fourth-quarter net profit.

($1 = 3.7503 riyals)

(Reporting By Tom Arnold, editing by David Evans) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))