Alujain Corporation (Alujain) [2170.SE] has announced that its board of directors (BoD) has proposed a cash dividend distribution of SAR0.50/share for FY16. The board attributed its decision to the positive operational and financial performance from National Petrochemical Industrial Company (NATPET), Alujain’s petrochemicals subsidiary. This implies that the dividend yield is 3.8%, and that the payout ratio is 34%, based on the company's annualised 9M16 earnings. The company also noted that the ex-dividend date is on 1 January 2017, and the distribution date will be one month from the general assembly’s approval of the FY16 financial results. (Tadawul)