HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company announced the Company’s financial results of operations for the second quarter and the six months ended June 30, 2011. The Company announced net income of SR 163.5 million, an increase of 20.8% when compared to the results for the second quarter of 2010. The consolidated net income for six months totaled SR 254.1 million, which represents an increase of 20.7%.
HRH Prince Alwaleed said “Kingdom Holding continues to achieve strong results and profits with a dividend yield of 6.5%.”
Shadi Sanbar, CFO, commented: “The second payment of dividends has been deposited in shareholder’s accounts and I am confident that the outlook for the Company’s continuing profitability is promising especially in so far as the real estate developments in Saudi Arabia”. He added, “KHC is poised to capitalize on financial and strategic opportunities as they come up.”
Kingdom Holding is still going ahead with its huge real estate Jeddah and Riyadh projects as planned.