Prince Alwaleed Bin Talal Bin, chairman of Kingdom Holding Company, chaired by Prince Alwaleed Bin Talal Bin, with the company board, during a previous meeting. RIYADH – Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal Bin, announced the distribution of quarterly cash dividend totalling SR550.3 million from retained earnings. The recommendation to distribute 12.5 halalas per share quarterly (the total for the year is SR0.50 per share) for a total of SR137.6 million as quarterly cash dividend was made the general assembly of shareholders was made in a general assembly of shareholders meeting on Feb. 20. Alwaleed gave up full entitlement of his share of the proposed annual cash distributions, which totaled 37 halalas per share (SR1,302.7 million), or 9.25 halalas per share (SR325.7 million quarterly). KHC's consolidated net income for 2012 totaled SR707 million, an increase of 10.5 percent over 2011, while the fourth quarter results of SR 210 million exceeded last year's by 11.6 percent. Shadi S. Sanbar, the company's CFO and member of the investment committee, said: “KHC realized significant gains from sales of certain real estate land sales in Riyadh, and recognized profit from the sale of hotels together with improving results from its three hotel management companies. In addition, the general improvements in the equities market, both domestically and internationally, coupled with improving results from its associated companies and income on investments contributed favorably to the overall success in 2012." — SG
