Saudi Cement BoD proposes 2H17 DPS of SAR1.75/share; brings total DPS for FY17 to SAR4/share
Saudi Cement Company’s Board of Directors (BoD) has proposed 2H17 DPS of SAR1.75/share or SAR267.75mn in total dividend, bringing the total cash dividend paid this year to SAR4/share ( beating our forecast of SAR2.8/share for FY17). This implies a dividend payout of 144% (based on our FY17e EPS of SAR3.01/share; and versus our 93% pay-out estimate) and a dividend yield of c8%.
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