Eastern Cement BoD proposes DPS of SAR2.5 for full-year 2015
Eastern Cement Company’s Board of Directors (BoD) has proposed SAR2.5 dividend per share for full-year 2015, or SAR215 million in total cash, same as last year and below our forecast of SAR3.0 per share. The proposed dividend implies 7% yield and a payout of 64%. The EX date for the cash dividends will be by end of trading day of the AGM, which will be announced later. (Tadawul, Tarek El-Shawarby)
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