SADAFCO BoD proposes SAR4.0/share cash dividend for FY2015/16, slightly below estimate
SADAFCO’s Board of Directors (BoD) has proposed a cash dividend distribution of SAR4.0/share for FY2015/16 (total of SAR130 million), higher than the SAR3.5 paid out in FY2014/15 and below our SAR5.0 estimate. The dividend payout of 50% is slightly below the company’s run rate of c70% over the past three years and implies a dividend yield of 2.9%. (Company disclosure, Hatem Alaa, Nada Amin)
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