Jarir BoD proposes DPS of SAR2.40 for 1Q18; slightly above
Jarir Marketing Co.'s [4190.SE] BoD has proposed a cash dividend distribution of SAR2.40 per share (total of SAR216mn) for 1Q18, coming in slightly higher than our estimate of SAR2.25/share. The dividend implies a pay-out ratio of c99% based on 1Q18 net profit and an annualised dividend yield of 5.5%. The ex-dividend date will be on 17 May 2018 and the distribution date on 24 May 2018. Hatem Alaa, Nada Amin
Jarir Marketing Co.: SAR174.34 as of 7 May. 2018, Rating: Buy, TP: SAR184.00/share, MCap: USD4,184mn, JARIR AB/4190.SE
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