Saudi's Al Rajhi Bank lowers H2 cash dividend after Q4 profit drop

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Al Rajhi Bank, Saudi Arabia's second-largest listed lender, proposed a 0.75 riyal per share cash dividend for the second half of 2014, it said in a statement on Thursday. The recommendation by the bank's board is down from the 1.0 riyal per share cash dividend which the bank paid for the second half of 2013. Earlier on Thursday Al Rajhi reported a 1.8 percent drop in its fourth-quarter net profit, marking the sixth straight drop in quarterly profit.

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