ALKHABEER Capital, a leading asset management & investment firm based in Saudi Arabia, has recommended the declaration of dividend payment of 4.8 percent per share before deduction of any dues subject to the approval of the general assembly meeting that will be held in May 2014. The first dividend payment is the result of Alkhabeer's strong growth and profitability over the last few years and its full year 2013 financial results, where the company reported revenues in excess of SR125 million and realized a net income of SR43.3 million, representing a 40 percent increase over 2012. The full year 2013 financial results are to be announced by March 2014. Ammar A. Shata, Alkhabeer's Executive Director and Chief Executive Officer, said: “Our dividend payment reflects the success of our business and wider investment strategy which adheres to strict due diligence guidelines. Our business prospects for the year ahead are encouraging and we are well positioned to continue our strong growth momentum.” “We remain committed to delivering optimal returns for our shareholders and I look forward to reporting on further progress shortly.” Shata added. — SG
