Advanced Petrochemical Company (Advanced) announced that its board of directors (BoD) has proposed a dividend of SAR0.65/share for 3Q2016. While the dividend appears lower than the 2Q16 dividend of SAR0.75/share, this is merely a consequence of the bonus share issue in July (20% bonus share issue), with the dividend in absolute terms actually increasing marginally to SAR128mn (from SAR123mn previously). The dividend is slightly higher than our forecast of SAR0.625/share. This implies a payout ratio of 68% based on the company’s reported 3Q16 net income and a dividend yield of 6.7%.      The ex-dividend date will be 13 October 2016, and the distribution date will be 27 October 2016. In addition, the company announced that Khalifa Al Mulhim was reappointed as Chairman of the board, and that Abdullah Al Garawi was appointed as vice Chairman of the board. (Tadawul, Yousef Husseini)   Advanced: SAR38.71 as of 04 October 2016, Rating: Neutral, FV: SAR39.00 per share, MCap: USD2,031mn, APPC AB / 2330.SE