Al Jazeera Steel (AJSP) board of directors (BoD) has proposed to distribute a cash dividend of OMR0.009/share for FY2015 (-59% Y-o-Y, but 8% above our forecast of OMR0.008). The proposed dividend implies OMR1.1 million in total cash dividends, a 6.4% dividend yield and 66% payout (versus 53% payout in FY2014 and our estimate of 60%). The EX date for the cash dividends will be Monday 21 March 2016. (company) Jazeera Steel: OMR0.142 as of 16 February 2016, Rating: Neutral, FV: OMR0.193 per share, MCap: USD47 million, ATMI OM / AJTM.OM
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