The shareholders of EK Holding decided to raise the 2015 cash dividend to USD0.025/share at the company's AGM, doubling the BoD's recommendation of USD0.0125/share. The new DPS implies an attractive dollar denominated dividend yield of 5.2% and a payout of ratio of 71%. It is worth noting that the record and distribution dates have yet to be set.   Overall, this move is in-line with our view that EK Holding could easily raise its payout, given that the company has i) no major CAPEX programme in place; and ii) the balance sheet is cash rich. We believe the stock continues to hold value as core operations are being offered at attractive valuations, while the cash rich balance sheet offers support during the current weak environment. As for the approved dividend, we believe the yield offered by the stock on USD currency is highly attractive and rewarding to investors, especially in the current Egyptian equities space. Hence, we reiterate our Buy call on the stock. (Ahmed Hazem Maher, company)   Egyptian Kuwaiti: USD0.48 as of 15 March 2016, Rating: Buy, FV: USD0.80 per share, MCap: USD492 million, EKHO EY / EKHO.CA