Kingdom Holding Company's Board of Director Announces its Recommendation to Distribute Quarterly Cash Dividends from Retained Earnings during 2020
| Element List | Explanation |
|---|---|
| Announcement Detail | Kingdom Holding Company's board of directors has announced in their meeting, 06/08/1441H corresponding to 30/03/2020, their recommendation to the General Assembly of Shareholders to distribute quarterly cash dividends from retained earnings during 2020 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 0.50 Saudi Riyals per share) for a total of 163.9 million riyals as quarterly cash dividends totaling to 655.9 million Saudi Riyals for the year for number of shares 3,705,882,300.
This figure was determined after the Chairman of the Board, His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, gave up his full entitlement of his share of the proposed annual cash distributions, which totaled 34 Halalas per share (1,197 million Riyals), or 8.50 Halalas per share (299.2 million Riyals quarterly). Note that eligibility for the payment of cash dividends will be based on the following: First payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on 07/08/1441H corresponding to 31 March 2020 and will be paid after 10 working days from second trading day after the eligibility date. 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 09/11/1441H corresponding to 30/06/2020 and will be paid after 10 working days from second trading day after the eligibility date. 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 13/02/1442H corresponding 30/09/2020 and will be paid after 10 working days from second trading day after the eligibility date. 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 16/05/1442H corresponding to 31/12/2020 and will be paid after 10 working days from second trading day after the eligibility date. |
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