Al Othaim BoD proposes SAR2.0/share cash dividend for 2015, below forecast
Al Othaim Market’s Board of Directors (BoD) has proposed a cash dividend distribution of SAR2.0/share for 2015 (total of SAR90mn), below our SAR2.25/share forecast and higher than the SAR1.75 DPS paid out in 2014. The payout ratio of c39% comes broadly in line with the company’s run rate (4YR avg. of 38%) and implies a dividend yield of 2.5%. (Company disclosure, Hatem Alaa, Nada Amin)
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