Arabian Cement Co. (KSA) BoD proposes DPS of SAR2.00 for 2H16
Arabian Cement Company’s board of directors (BoD) has proposed a distribution of SAR2.00 dividend per share for 2H16, i.e., SAR200mn in total cash, vs. SAR2.50 in 2H15. The total dividends per share for FY16 is SAR4.00 vs. SAR4.50 for FY15, implying a payout ratio of 82% (75% in FY15) and yield of 10.5%. The EX date for the cash dividends will be by end of trading day of the AGM, which will be announced later. (Company disclosure, Tarek El-Shawarby) Arabian Cement Co. (Saudi): SAR38.03 as of 19 Feb. 2017, Rating: Buy, TP: SAR60.00/share, MCap: USD1,014mn, ARCCO AB/3010.SE
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