Al Othaim BoD proposes SAR2.0 DPS for 2016, in line with EFGe and 2015 figure
Al Othaim’s (4001.SE) Board of Directors (BoD) has proposed the distribution of a SAR2.0/share cash dividend for 2016 (total of SAR90mn), in line with our forecast and the prior year’s DPS. The dividend implies a payout of 40% (unchanged Y-o-Y0 and yield of 1.9%. The ex-dividend date will be the day following the company’s AGM, the date of which is yet to be announced.
Al Othaim: SAR104.69 as of 21 Mar. 2017, Rating: Buy, TP: SAR109.00/share, MCap: USD1,256mn, AOTHAIM AB/4001.SE
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