Saudi
Cement Co. rose to the highest level since July 2008 after Saudi
Arabia’s largest producer of the building material by market value
recommended paying a better-than-expected second-half cash dividend.
The shares gained 5.1 per cent to 77 riyals at 11:59 a.m. in
Riyadh. They earlier rose as much as 7.2 per cent.
The board of the Dammam, Saudi Arabia-based company proposed a second-half dividend of 4.5 riyals a share after paying 2 riyals for the
first six months, it said in a statement after the market closed yesterday. The
company paid a dividend of 4 riyals in 2010, according to data posted on the Saudi bourse website.
INTERCEM - The world's leading international cement industry conferences.