Middle East Healthcare Company (MEAHCO) ( 4009.SE) reported its preliminary 1Q2016 results, showing a flattish net income of SAR105 million(-0.2%) Y-o-Y to SAR105 million (+3% Q-o-Q). The company attributed flattish growth to higher SG&A cots, that offset an increase in inpatients admitted and outpatient visits, which seems moderate, given 4% Y-o-Y growth in GP and flattish EBIT (-0.55%). On another note, the company’s Board of Directors (BoD) proposed the distribution of SAR184 million cash dividends for FY2015 ( SAR2/share), implying a 54% dividend payout ratio and a 3% dividend yield. The proposed dividend awaits approval of the company’s shareholders at the upcoming AGM, the date of which is yet to be set. (Company disclosure)