Riyadh – Mubasher: The board of directors of Kingdom Holding Company (KHC) has approved a quarterly cash dividend for 2017 from retained earnings for 1.25% of the share’s par value, or 5% for the full year 2017.
The proposal, made at the company’s board meeting held on Tuesday, indicates that dividends will amount to 12.5 halalas per issued share per quarter, according to a bourse filing.
Dividends will total SAR 0.5 per share for the full year 2017, bringing total quarterly dividends to SAR 163.9 million, while cash dividends for the full year 2017 are therefore estimated at SAR 655.9 million.
“This figure was determined after the chairman of the board Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, gave up his full entitlement of his share of the proposed annual cash distributions, which totalled 34 halalas per share (SAR 1.197 billion), or 8.50 Halalas per share (SAR 299.2 million quarterly),” KHC said.
Distributions will be carried out on four stages representing each of the quarters of the year.
The first will be for shareholders registered at the end of trading on 12 April 2017, who will receive their payments on 23 April.
For the second quarter, shareholders registered in the company’s books by the end of trading on 30 June will receive their payouts ten days later.
Similarly, for the third and fourth quarters, shareholders registered by the end of trading on 30 September and 31 December, respectively, will receive their dividends 10 days after the eligibility dates, according to the statement.
By 12:08 pm Saudi time, KHC’s stock grew 1.33% to SAR 10.65 on Tadawul.
