Advanced’s Board of Directors (BoD) proposed a cash dividend of SAR0.65/share for 4Q19 (vs. SAR0.70 in 3Q18 and SAR0.65 in 3Q19). This brings the total dividends paid for FY19 to cSAR2.6/share, implying an annualised dividend yield of c5.4% and a payout of 77% (based on our FY19 EPS estimates). The ex-dividend date for the cash dividend and the distribution date have not been determined yet.
Advanced Petrochemicals: SAR48.00 as of 08 Dec 2019, Rating: Buy, TP: SAR56.50/share, MCap: USD2,771mn, APPC AB/2330.SE