Southern Cement approves 5% dividend for H2 2017

Southern Province Cement Co.’s (SPCC) shareholders on Tuesday approved a 5 percent cash dividend (SAR 0.5 per share) for the second half of 2017.

Registered shareholders at the Securities Depository Center Co. (Edaa) on the end of the second trading day following the general assembly are entitled to receive the cash dividend, the company said in a statement to Tadawul.

SPCC’s general assembly also approved the board of directors and the auditor’s reports, as well as financial statements for 2017.

Moreover, shareholders endorsed SAR 1.8 billion in board remuneration for 2017, discharged board members from liability for the last year, and hired an external auditor for the current fiscal year.