Tabuk Cement announces dividends, Saudi Arabia

The management board of Saudi cement producer, Tabuk Cement Company (TCC), decided to recommend to shareholders a cash dividend of SAR0.5/share (US$0.133), or a total SAR45m, for the second half of 2011.

If the dividend payout is approved, the total dividend for 2011 will come in at SAR1.4 per share, or a total SAR126m, as the company has already paid a dividend of SAR0.9 per share for the first half of 2011.

For the nine months to September 2011, TCC said its net profit for January-September 2011 rose 9.4 per cent YoY to SAR108.9m.