Advanced BoD proposes SAR0.7/share dividend for 1Q18; flat Y-o-Y, in line with forecasts
Advanced Petrochemical’s Board of Directors (BoD) have proposed a cash dividend of SAR0.7/share for 1Q18, flat Y-o-Y and in line with our forecast. This represents an annualised pay-out of c80% based on our 2018 EPS forecasts and a dividend yield of 5.9%. The ex-dividend date will be 1 April, while the distribution date has not yet been determined and will be announced at a later date.
Advanced: SAR47.56 as of 19 Mar. 2018, Rating: Buy, TP: SAR50.50/share, MCap: USD2,496mn, APPC AB/2330.SE
Yousef Husseini
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