Advanced BoD proposes SAR0.70 DPS for 1Q17, in line with our forecasts
Advanced Petrochemical Company (Advanced) announced that its board of directors (BoD) has proposed a dividend of SAR0.70/share for 1Q17. The dividend is in line with our forecasts, and implies a dividend yield of 5.9% based on the annualised DPS and the latest closing price. The distribution also implies a dividend payout ratio of 80% based on our 2017 EPS forecasts.
The ex-dividend date will be on 2 April 2017 and the distribution date will be announced later
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