Herfy Food Services’ (6002.SE) Board of Directors has proposed the distribution of a SAR1.5 cash dividend for 2H16 (total of SAR69.3mn), in line with the last three dividend distributions and our forecast. The dividend implies a DPO of 61% and a dividend yield of 1.8%. (Company disclosure, Nada Amin, Hatem Alaa) Herfy: SAR81.77 as of 20 Feb. 2017, Rating: Buy, TP: SAR91.00/share, MCap: USD1,007mn, HERFY AB/6002.SE
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