Oriental Weavers BoD proposes EGP0.50/share cash dividend for 2015, in line
Oriental Weavers’ Board of Directors (BoD) has proposed a cash dividend distribution of EGP0.5/share for 2015 (total of EGP250mn), coming in line with our forecast and higher than the EGP0.4 DPS paid out in 2014. The implied payout is c63%, above the past three years’ average of 50%, and a dividend yield of 6.4%. The dividend is subject to shareholder approval at the AGM scheduled for 2 April 2016. Oriental Weavers: EGP7.83 as of 16 March 2016, Rating: Buy, FV: EGP14.50 per share, MCap: USD394 million, ORWE EY / ORWE.CA
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