Riyadh-Mubasher: Aljazira Capital Research said it will remain Neutral for the stocks of Northern Cement, while up grading its price target (PT) to SAR 12.90 per share.

Northern Cement is expected to expected to post net income of SAR 183.36 million (SAR1.02 EPS) for 2016, recording a decline of 11.38% y-o-y for the year influenced by lower expected volumetric sales and higher cost, said the research house.

Aljazira also expects Northern Cement to reduce its dividend to SAR 1.00/ share showing a dividend yield of 8.0% based on current price.