Saudi cement BoD proposes cash dividends of SAR3.0 per share for 2H2015
Saudi Cement board of directors (BoD) proposed a cash dividend of SAR3.0 per share for 2H2015 or cSAR459 million in total cash dividends. This implies DPS of SAR6.0 for full year 2015 (c10% dividend yield, 97% payout), as the company has distributed cash dividends of SAR3.0 per share in 1H2015. The full year DPS is the same as last year’s DPS and our forecast. The EX date for the cash dividends will be by the end of the trading day of the AGM, which will be announced later. (company, Tarek El-Shawarby) Saudi Cement: SAR60.47 as of 4 February 2016, Rating: Buy, FV: SAR100.00 per share, MCap: USD2,467 million, SACCO AB / 3030.SE
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