Qassim Cement to distribute DPS of SAR1.25 for 2Q16
Qassim Cement Company’s board of directors (BoD) proposed a distribution of SAR1.25 dividend per share for 2Q16, or SAR112.5mn in total cash, vs. SAR1.50 last year. The total dividends per share for 1H16 is SAR2.75, which surprised positively, as we forecast a dividend of SAR4.5 per share for FY16 (91% payout) or cSAR1.13 for the quarter, vs. SAR6.25 for FY15. The EX-date for the cash dividends will be 17 July 2016, and the distribution will be 14 July 2016. (Tadawul, Tarek El-Shawarby) Qassim Cement: SAR65.50 as of 23 June 2016, Rating: Neutral, FV: SAR65.30 per share, MCap: USD1,572 million, QACCO AB / 3040.SE
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