Oman Cement proposes above estimate 2015 cash DPS of OMR0.030 (7.0% yield)
Oman Cement Company (OCC) board of directors (BoD) has proposed to distribute a cash dividend of OMR0.030/share for FY2015 (flat Y-o-Y but 36% above our forecast of OMR0.022). The proposed dividend implies OMR9.9 million in total cash dividends, a 7.0% dividend yield and 85% payout (versus 76% payout in FY2014 and our estimate of 75%). The EX date for the cash dividends will be Monday 21 March 2016. (Company disclosure, Sameer Kattiparambil, Wafaa Baddour) Oman Cement Co.: OMR0.430 as of 21 February 2016, Rating: Neutral, FV: OMR0.462 per share, MCap: USD365 million, OCOI OM / OCCO.OM
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