AACT proposes 2016 cash DPS of OMR0.008 (4.6% yield), -11% vs our estimate
Al Anwar Ceramics (AACT) board of directors (BoD) has proposed a cash dividend of OMR0.008/share for FY2016 (-60% Y-o-Y, -11% versus our forecast of OMR0.009). The proposed dividend implies OMR2.37mn in total cash, a 4.6% dividend yield and 80% payout – barring the one-off provisions (versus 90% payout in FY2015 and our estimate of 90%). The EX date for the cash dividends will be on 22 March. (Company Disclosure, Sameer Kattiparambil, Tarek El Shawarby) Al-Anwar Ceramics: OMR0.174 as of 9 Feb, Rating: Neutral, TP: OMR0.175/share, MCap: USD136mn, AACT OM/AACT.OM
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