Heliopolis Housing BoD proposes EGP3.00/share dividend for FY2015/16, EFGe: EGP2.50/share
Heliopolis Housing announced that its Board of Directors (BoD) had proposed a cash dividend of EGP3.00/share for FY2015/16, higher than our expected EGP2.50/share. The proposed dividend implies a payout ratio of c83% (higher than the three-year trailing average of c70%) and a dividend yield of 5.9%. The ex-dividend and the distribution dates are yet to be announced. (Company disclosure, Mai Attia, Sara Boutros) Heliopolis Housing: EGP50.88 as of 29 September 2016, Rating: Buy, FV: EGP74.38 per share, MCap: USD637mn, HELI EY / HELI.CA
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