Yanbu Cement to distribute cash dividends of SAR2.0 per share for 2H16, below last year’s
Yanbu Cement board of directors (BoD) has decided to distribute a cash dividend of SAR2.0 per share for 2H16 or SAR315mn in total cash dividends; below the dividends distributed in 2H15 (SAR3.5). The total cash dividends per share for FY16 is SAR3.0 (88% payout) vs. SAR5.0 in FY15 (98%). The EX date for the cash dividends will be by end of trading day of the AGM, which will be announced later. (Company disclosure, Tarek El-Shawarby) Yanbu Cement: SAR35.00 as of 6 Feb. 2017, Rating: Buy, TP: SAR55.00/share, MCap: USD1,470mn, YNCCO AB/3060.SE
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