Qassim Cement to distribute DPS of SAR1.5 for 1Q2016, same as last year
Qassim cement company board of directors (BoD) has proposed the distribution of SAR1.5 dividend per share for 1Q2016, or SAR135 million in total cash, same as last year, implying 100% payout for the quarter. The announced dividend surprised positively as we forecast a dividend of SAR4.5 per share for FY2016 (91% payout) or cSAR1.13 for the quarter, versus SAR6.25 for FY2015. The EX-date for the cash dividends will be 24 April 2016. (Tadawul, Tarek El-Shawarby) Qassim Cement: SAR62.83 as of 12 April 2016, Rating: Neutral, FV: SAR65.30 per share, MCap: USD1,508 million, QACCO AB / 3040.SE
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