Dallah board of directors (BoD) proposed a cash dividend of SAR2.5 per share for FY 2017, or cSAR147.5mn in total cash dividends, implying a 2.5% dividend yield. The proposed DPS is in line with our forecast and higher than 2016’s DPS of SAR2.0. Dallah’s net income stood at SAR232mn in 9M17. The BoD also approved the distribution of semi-annual dividends starting 2018. The ex-date for the cash dividend will be end of the trading day of the AGM, which will be announced later.

(Company disclosure, Wafaa Baddour, Adham El Badrawy)
 
Dallah Healthcare: SAR102.00 as of 13 Dec. 2017, Rating: Neutral, TP: SAR125.00/share, MCap: USD1,605mn, DALLAH AB/4004.SE