Riyadh-Mubasher: Kingdom Holding Co. (KHC) said its board of directors recommended on Sunday quarterly cash dividends from retained earnings at 1.25% of the stock’s par value, or 12.5 halalas a share, totalling SAR 163.9 million.
The board also proposed annual cash dividends at 5% of the stock’s par value, or SAR 0.50 a share, totalling SAR 655.9 million.
This figure was determined after Chairman Alwaleed bin Talal gave up his share of the proposed dividends which totaled 34 halalas a share (SAR 1,197 million) of the full-year dividends, or 8.50 halalas a share (SAR 299.2 million) of the quarterly dividends.
The dividend eligibility will be based on the following:
First payment: Eligibility will be for shareholders of record on the date of the ordinary general meeting which will be announced later. The payment will be within two weeks from the meeting date.
Second payment: Eligibility will be for shareholders of record on 30 June 2016, and the payment will be within two weeks from this date.
Third payment: Eligibility will be for shareholders of record on 30 September, and the payment will be within two weeks from this date.
Fourth payment: Eligibility will be for shareholders of record on 31 December, and the payment will be within two weeks from this date.
