Aramex board proposes cash dividend of AED0.15/share
The board of Aramex proposed a cash dividend of AED0.15 for 2015 (implying 4.6% dividend yield, 71% payout ratio), subject to AGM approval that will convene on 14 April 2016. The DPS is higher than 2014’s distribution of AED0.14/share but comes 4% below our estimate. Aramex reported last month a 2% Y-o-Y decrease in net profit to AED311 million. Net profit on a recurring basis was however up 12% Y-o-Y. (Bloomberg, company disclosure, Wafaa Baddour)
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