Jarir BoD proposes DPS of SAR2.35 for 3Q18; slightly above
Jarir Marketing Co.'s [4190.SE] BoD has proposed a cash dividend distribution of SAR2.35 per share (total of SAR282mn) for 3Q18, coming in slightly higher than our estimate of SAR2.25/share. The dividend implies a pay-out ratio of c98% based on 3Q18 net profit and an annualised dividend yield of 4.9%. The ex-dividend date will be on 13 November 2018, and the distribution date is set for 21 Nov 2018.
Jarir Marketing Co.: SAR148.20 as of 01 Nov 2018, Rating: Buy, TP: SAR163.00/share, MCap: USD4,742mn, JARIR AB/4190.SE
Hatem Alaa, Nada Amin
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