DUBAI: Saudi Cement's board has recommended a dividend of SR2.5 ($0.67) per share for the second half of 2014, the company said in a statement.

The dividend is down from the 3.5 riyals per share paid out for the second half of 2013, according to Thomson Reuters data.

Saudi Cement, Saudi Arabia's largest cement company by market value, last month reported an 8.9 percent rise in fourth-quarter net profit to SR269 million, beating analyst forecasts.