Saudi Electricity proposes 0.7 riyals/share 2014 dividend

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DUBAI, Feb 24 (Reuters) - Saudi Electricity Co (SEC) has proposed paying a cash dividend of 0.7 riyals ($0.19) a share for 2014, it said in a bourse statement on Tuesday. The Gulf's largest utility firm has paid the same annual dividend since at least 2010, according to Thomson Reuters data. SEC reported a wider fourth-quarter loss but a rise in its annual net profit last month. The firm's results are highly seasonal due to the big swing between power demand in winter and in summer, when high temperatures lead most homes and businesses to rely on extensive air conditioning. ($1 = 3. ...

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