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×Saudi fund made SAR 20 bln in dividends last year
Saudi Arabia's Public Investment Fund (PIF) received a total of SAR 20.36 billion in dividends from local companies last year, with a yield of 5.5 percent, the kingdom's largest wealth fund said in a statement.
The fund currently owns stakes in several companies and banks in the kingdom, and is a major shareholder in 19 Saudi-listed firms, including Saudi Basic Industries Corp (SABIC) in which it owns a 70 percent stake. It also holds a 44 percent stake in the National Commercial Bank (NCB) and a 22.91 percent in Samba Financial Group.
It also owns stakes in Saudi Telecom Co. (STC) (70 percent) and Saudi Arabian Mining Co. (Maaden) (49.99 percent).
During 2012-2015, loss-making Saudi Fisheries (Asmak) had not paid dividends. Also, Maaden did not distribute dividends during the same period due to its expansionary strategy.
The fund has lately denied reports that it plans to divest some its stakes in local companies, as these investments tend to generate attractive yields.
Total Dividends (SAR mln) |
||||
2012 |
2013 |
2014 |
2015 |
Company |
0 |
0 |
75 |
75 |
Alinma Bank |
25 |
20 |
20 |
20 |
Dur Hospitality |
34 |
30 |
22 |
22 |
Eastern Province Cement |
12 |
0 |
7 |
8 |
Nadec |
126 |
131 |
126 |
131 |
Qassim Cement |
12 |
14 |
15 |
11 |
GASCO |
339 |
339 |
371 |
412 |
Samba |
10,500 |
10,500 |
11,550 |
11,550 |
Sabic |
89 |
89 |
89 |
222 |
Bahri |
424 |
476 |
476 |
457 |
Riyad Bank |
0 |
0 |
0 |
0 |
Maaden |
0 |
0 |
0 |
0 |
Saudi Fisheries |
5 |
6 |
5 |
5 |
Saudi Ceramic |
10 |
10 |
15 |
10 |
SAPTCO |
77 |
77 |
77 |
77 |
Al Akaria |
2,800 |
3,150 |
4,900 |
5,600 |
STC |
367 |
367 |
262 |
314 |
Southern Province Cement |
52 |
63 |
63 |
79 |
Yanbu Cement |
1,196 |
1,240 |
576 |
1,373 |
NCB |
16,069.2 |
16,513.2 |
18,648.9 |
20,366.8 |
Total |
4.4% |
4.49% |
5.07% |
5.54% |
Return |
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Saudi PIF said to be eyeing stake in ACWA Power |
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