Jarir Marketing's Board of Directors (BoD) has proposed a cash dividend distribution of SAR1.25/share for 2Q16 (total of SAR112.5mn). The quarter's payout is c87.5% broadly in line with the company’s recent run rate of 85-90%. Dividend yield (1H16 annualised: SAR6.00 lower than our SAR6.95 estimate for the year) is 5.3%. The ex-dividend date is 4 August 2016 and the distribution date is 11 August 2016. (company, Hatem Alaa) Jarir Marketing Co.: SAR113.00 as of 21 July 2016, Rating: Neutral, FV: SAR127.00 per share, MCap: USD2,712mn, JARIR AB / 4190.SE
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