Qassim Cement BoD proposes cash dividend of SAR1.75 per share for 4Q2015
Qassim Cement board of directors (BoD) proposed a cash dividend of SAR1.75 per share for 4Q2015 or SAR157.5 million in total cash dividends. This implies DPS of SAR6.25 for full-year 2015 (c11% dividend yield, 96% payout), as the company has distributed cash dividends of SAR4.5 per share during 9M2015. The full-year DPS is above last year’s DPS and our forecast of SAR6.00. The EX date for the cash dividends will be 28 February 2016, and the distribution date will be 15 March 2016. (Tarek El-Shawarby, Wafaa Baddour) Qassim Cement: SAR60.32 as of 26 January 2016, Rating: Neutral, FV: SAR82.00 per share, MCap: USD1,448 million, QACCO AB / 3040.SE
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