Sidi Kerir Petrochemicals’ BoD have proposed a cash DPS of EGP1.25, slightly below our estimate of EGP1.3, and implies a payout ratio of 87% and dividend yield of 10.7%.   Despite the proposed DPS, we continue to believe that Sidpec's shareholders will likely move to raise the cash DPS at the company's AGM to EGP1.3 (on 30 March), which reflects a payout of 90% and a dividend yield of 11.2%. This move would be in-line with the company's historical actions to increase the DPS at its AGM; especially as the Port Said project expansion remains in the initial stages and is unlikely to require any significant capex payments in 2016.  (Company, Ahmed Hazem Maher, Yousef Husseini)   Sidi Kerir: EGP11.65 as of 10 March 2016, Rating: Buy, FV: EGP13.50 per share, MCap: USD781 million, SKPC EY / SKPC.CA