MIDEAST STOCKS-Most Gulf bourses slip in early trade, Saudi firm | Reuters:
"Most Gulf bourses were weak in early trade on Wednesday as investors booked profits, while Saudi Arabia's index edged up.
Saudi Arabia's Advanced Petrochemical surged 3.5 percent after the company announced plans to increase its share capital by 20 percent to support future growth. The company also said it recommended distributing a cash dividend of 0.75 riyal per share for the first quarter.
"We expect the company will distribute 3.0 riyals per share for 2016. If annualised, the dividend yield will be 6 percent," said a note by NCB Capital. The range of dividend yields is between 4 and 9 percent for Saudi petrochemical producers, according to Reuters data."
'via Blog this'
No comments:
Post a Comment