Mubasher: MubasherTrade Research lowered Yamama Cement Company’s price target (PT) by 1.87% from SAR 40 to SAR 39.25.

MTR reiterated “Buy/Moderate Risk” rating on Yamama’s stock, according to a recent report.

The ex-dividend date of the distribution of SAR 0.25 per share for Q2-16 will be on 16 August and the actual distribution date will be on 25 September.

Dividends per share (DPS) came missing MTR estimates by 50%, the report highlighted.

Yamama said that it cut the DPS from SAR 0.75 to SAR0.25, compared to MTR estimates of SAR 0.50, as it started to implement the project of relocating its plant.

MTR reduced its estimates for its Q3-16 DPS from SAR 0.50 to SAR 0.25.