Advanced Petrochemical Company (Advanced) announced that its board of directors (BoD) has proposed a dividend of SAR0.70/share for 4Q16. The dividend is higher than our forecast of SAR0.65/share, with total annual dividends coming in at SAR2.60/share, slightly higher than our forecast of SAR2.55/share. The dividend implies a payout ratio of 81% based on our forecast 2016 net income and a dividend yield of 6.2%, based on the last closing price.     The ex-dividend date will be the day after the general assembly (yet to be determined), while the distribution date will be announced later. (Tadawul, Yousef Husseini)   Advanced: SAR41.95 as of 22 November 2016, Rating: Neutral, FV: SAR42.50 per share, MCap: USD2,201mn, APPC AB / 2330.SE