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Kingdom Holding Announces Cash Dividends Distribution of SR 0.50 Per Share

February 24, 2014

Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announced in their meeting that was held on Thursday, 20 February 2014, their recommendation to the General Assembly of Shareholders to distribute quarterly cash dividends from retained earnings of 1.25% (5% for the full year) of the shares nominal value, by distributing 12.5 Halalas per share quarterly (the total for the year is 0.5 Riyals per share) for a total of 163.9 million Riyals as quarterly cash dividends totaling to 655.9 million Riyals for the year.

 

This figure was determined after HRH Prince Alwaleed, gave up his full entitlement of his share of the proposed annual cash distributions, which totaled 34 Halalas per share (1197 million Riyals), or 8.5 Halalas per share (299.2 million Riyals quarterly).

 

Note that eligibility for the payment of cash dividends will be based on the following:

 

  1. First payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of the AGM, which will be held once approved by the appropriate authorities and will be paid after two weeks after the eligibility date.

 

  1. Second payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of Jun 30th, 2014 and will be paid after two weeks after the eligibility date.

 

  1. Third payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of September 30th, 2014  and will be paid after two weeks after the eligibility date.

 

  1. Fourth payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of December 31st, 2014 and will be paid after two weeks after the eligibility date.

 

KHC, reported that consolidated net income for 2013 totaled SR 742.5 million, an increase of 5% over 2012, while the fourth quarter net income of SR 231.2 million exceeded last year’s by 10%.

 

Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007.  KHC is one of the world’s most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. The Company is recognized as one of the largest foreign investors in the United States. KHC’s portfolio has its major interests in investment categories ranging from luxury hotels management hotel companies (Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Mövenpick Hotels and Resorts AG)  and real estate (Kingdom Tower and project in Jeddah and Kingdom Riyadh project) to hotel real estate investments such as The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel, Paris. KHC also has investments in Media and Publishing (News Corporation, Time Warner, Saudi Research and Marketing Group and Rotana Group), as well as in Entertainment (Euro Disney S.C.A). In addition, Finance and Investment services (Citigroup),  Social Media and Technology (Twitter, AOL, Apple and Motorola), as well as Consumer and retail, petrochemicals (Saks Incorporated and Jingdong). Moreover, the Company has investments in Education (Kingdom Schools), Health Care (Medical Services Projects Company), Aviation (NAS Saudi Arabia) and Agriculture (Kingdom Agricultural Development Company – KADCO Egypt).