Oman Cement BoD proposes 2016 cash DPS of OMR0.030 (6.2% yield); in line
Oman Cement Company’s (OCC) board of directors (BoD) has proposed to distribute a cash dividend of OMR0.030/share for FY16 (flat Y-o-Y, in line with our forecast). The proposed dividend implies OMR9.9mn in total cash dividends, a 6.2% dividend yield and 78% payout (vs. 86% payout in FY15). The EX date for the cash dividends will be Wednesday, 22 March 2017. (Company disclosure, Sameer Kattiparambil, Tarek El Shawarby) Oman Cement Co.: OMR0.49 as of 16 Feb. 2017, Rating: Neutral, TP: OMR0.50/share, MCap: USD416mn, OCOI OM/OCCO.OM
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