Riyadh – Mubasher: Aljazira Capital expects that Yanbu Cement will distribute 75 halalas per share in cash dividends for the second half of 2017, according to a report.
Aljazira said that the stock’s price target (PT) stood at SAR 31.6, with a “Neutral” recommendation.
The research firm forecast that the Saudi cement company will achieve SAR 362 million in net profits during 2017, compared to SAR 529.7 million in 2016, while sales are expected to reach SAR 1 billion.
Yanbu Cement’s net profits tumbled to SAR 80 million in Q2-17, down from SAR 159 million in Q2-16.
By 1:44 pm Saudi time, the stock inched up 0.48% to SAR 29.40.
