JEDDAH: Saudi Arabia’s Jarir Marketing Co. has proposed a fourth-quarter dividend of SR1.85 per share, the retailer said in a statement.

That is higher than the dividend of SR1.40 that the company paid for the fourth quarter of 2013, Reuters data shows.

Jarir, which in January posted a 25.5 percent increase in fourth-quarter net profit to SR200.8 million ($53.5 million), will distribute a total dividend of SR166.5 million for the three months to Dec. 31, the statement said.