SPIMACO BoD proposes cash dividend of SAR1.0 per share for FY2015
SPIMACO board of directors (BoD) proposes a cash dividend of SAR1.00 per share for FY2015 or cSAR120 million in total cash dividends, implying c4% dividend yield and 34% payout. The full-year DPS is below last year’s DPS of SAR1.50 and our forecast of SAR2.0. The EX date for the cash dividends will be by end of trading day of the AGM, which will be announced later. (Tadawul, Tarek El-Shawarby) SPIMACO: SAR28.06 as of 17 February 2016, Rating: Buy, FV: SAR45.00 per share, MCap: USD898 million, SPIMACO AB / 2070.SE
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