Qassim Cement Co. to distribute DPS of SAR1.00 for 3Q16
Qassim Cement Company’s board of directors (BoD) proposes a distribution of SAR1.00 dividend per share for 3Q16, or SAR90mn in total cash vs. SAR1.50 last year. The total dividends per share for 9M16 is SAR3.75, which surprised positively, as we forecast a dividend of SAR4.5 per share for FY16 (91% payout) vs. SAR6.25 for FY15. The EX date for the cash dividends will be 23 October 2016, and the distribution will be 30 October 2016. (Tadawul, Tarek El-Shawarby) Qassim Cement: SAR51.25 as of 09 October 2016, Rating: Neutral, FV: SAR65.30 per share, MCap: USD1,230mn, QACCO AB / 3040.SE
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