Jarir BoD proposes SAR1.75/share cash dividend for 1Q2016, in line
Jarir Marketing Company's Board of Directors (BoD) proposed a cash dividend distribution of SAR1.75/share for 1Q2016 (total of SAR157.5 million), in line with our forecast for the quarter. The quarter's payout is c90% broadly in line with the company’s run rate and comes lower than the SAR2.25/share paid out in 1Q2015. Annualised, the dividend figure is also in line with our forecast that implies a dividend yield of 5.7%. (Company disclosure, Hatem Alaa, Nada Amin) Jarir Marketing Co.: SAR123.69 as of 18 April 2016, Rating: Neutral, FV: SAR127.00 per share, MCap: USD2,969 million, JARIR AB / 4190.SE
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