Catering BoD proposed SAR1.75/share cash dividend for 4Q2015, in line
Saudi Airlines Catering’s Board of Directors (BoD) has proposed a cash dividend distribution of SAR1.75/share for 4Q2015 (total of SAR143.5mn), in line with our forecast and the DPS paid out in 4Q2014. The quarter's payout is c75%, slightly below the payout seen over the past two years of 85%. Catering paid out total dividends of SAR7.00/ share in 2015 implying a payout ratio of 82% (versus 85% in 2014) and dividend yield of 6.8%. Saudi Airlines Catering Company: SAR102.73 as of 3 March 2016, Rating: Buy, FV: SAR150.00 per share, MCap: USD2,246 million, CATERING AB / 6004.SE
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