Catering BoD proposes SAR1.75/share cash dividend for 2Q16, in line
Saudi Airlines Catering’s Board of Directors (BoD) has proposed a cash dividend distribution of SAR1.75/share for 2Q16 (total of SAR143.5mn), in line with our forecast and the run rate for nine consecutive quarters. The quarter's payout is c99%, higher than the DPO since 2013 of 80%+ (1Q16 DPO was also high at over 100%). The dividend implies an annualised dividend yield of 7.3%. Ex-dividend date is on 2 August 2016, and distribution date is 31 August 2016. (Company disclosure, Hatem Alaa, Nada Amin) Saudi Airlines Catering: SAR95.49 as of 19 July 2016, Rating: Neutral, FV: SAR110.00 per share, MCap: USD2,088mn, CATERING AB / 6004.SE
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