Riyadh – Mubasher: Kingdom Holding has reported a 2.7% year-on-year increase in net profit during the full year 2018, recording SAR 681.63 million ($181.72 million).

The Tadawul-listed company’s net profit tumbled 33% to SAR 47.37 million in the fourth quarter of last year, compared to SAR 70.63 million in the year-ago period, according to a bourse statement released on Thursday.

Kingdom’s board recommended the distribution of SAR 163.9 million in cash dividends for the fourth quarter of 2018, which will increase the company’s annual dividends to SAR 655.9 million.

In November, the Saudi investment firm posted SAR 248.551 million ($66.26 million) in net profits after zakat and taxes in the third quarter of 2018, up 0.4% from SAR 247.544 ($66 million) in the year-ago period.

Kingdom's stock shed 0.79% to SAR 8.8 on Thursday.