Herfy BoD proposes SAR1.5/share cash dividend for 2H15, ahead of forecast
Herfy Food Services Board of Directors (BoD) has proposed a cash dividend distribution of SAR1.5/share for 2H2015 (total of SAR69.3 million), ahead of our SAR1.25/share forecast. The interim payout ratio is c68% broadly in line with the company’s run rate and comes below the SAR1.60/share paid out in 2H2014. Herfy paid out total dividends of SAR3.0/share in 2015, implying a payout ratio of 68% and dividend yield of 4.3%. (Company disclosure, Nada Amin, Hatem Alaa)
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