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Kingdom Holding shareholders OK 2.8% dividend for 2024
AI Summary
Content Summary: 
Shareholders of Kingdom Holding Co. (KHC) approved the board of directors' recommendation on paying a 2.8% cash dividend, or SAR 0.28 per share, for 2024 from retained earnings.
The decision came during the ordinary general meeting (OGM) held on June 3.
The company will pay a quarterly dividend of 0.7%, or SAR 0.07 per share, totaling SAR 259.4 million. The total full-year distribution amounts to SAR 1.03 billion.
|
2024 Cash Dividend Details |
|
|
Current Capital |
SAR 3.70 bln |
|
Current No. of Shares |
3.70 bln |
|
Annual Dividend |
SAR 1.03 bln |
|
Total Quarterly Dividend |
SAR 259.4 mln |
|
Payout Ratio |
2.8% (SAR 0.28 per share) |
|
Quarterly Payout Ratio |
0.7% (SAR 0.07 per share) |
|
First Payment Record Date |
June 10, 2024 |
|
Payment Date |
10 business days from the second trading day following the record date |
|
Second Payment Record Date |
July 31, 2024 |
|
Payment Date |
10 business days from the second trading day following the record date |
|
Third Payment Record Date |
Oct. 1, 2024 |
|
Payment Date |
10 business days from the second trading day following the record date |
|
Fourth Payment Record Date |
Dec. 31, 2024 |
|
Payment Date |
10 business days from the second trading day following the record date |
In a statement to Tadawul, KHC said the board was also authorized to pay interim dividends on a semi-annual or quarterly basis for 2024.
Moreover, nine board members were elected for the next three-year term starting from June 5, 2024. The board members are Prince Alwaleed bin Talal, Abdulmajeed Al-Haqbani, Lama Al-Sulaiman, Talal Almaiman, Sarmad Zok, Adel Alabdulsalam, Hisham Al-Habib, Reem Asaad and Tamim Jabr.
Shareholders also greenlit KHC’s acquisition of a stake from Prince Alwaleed bin Talal in Citigroup for SAR 1.69 billion ($449.57 million) without any preferential terms.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 26/03/2024 | 10/06/2024 | 24/06/2024 | 259.40 | 0.07 | |
| 26/03/2024 | 31/07/2024 | 14/08/2024 | 259.40 | 0.07 | |
| 26/03/2024 | 01/10/2024 | 15/10/2024 | 259.40 | 0.07 | |
| 26/03/2024 | 31/12/2024 | 14/01/2025 | 259.40 | 0.07 | |
| 30/03/2023 | 14/05/2023 | 29/05/2023 | 259.40 | 0.07 | |
| 30/03/2023 | 03/07/2023 | 18/07/2023 | 259.40 | 0.07 | |
| 30/03/2023 | 01/10/2023 | 16/10/2023 | 259.40 | 0.07 | |
| 30/03/2023 | 31/12/2023 | 15/01/2024 | 259.40 | 0.07 | |
| 27/02/2022 | 17/04/2022 | 26/04/2022 | 259.40 | 0.07 | |
| 27/02/2022 | 30/06/2022 | 14/07/2022 | 259.40 | 0.07 |
Dividend History
| Consolidated cash dividend | Cash dividend per share (SAR) | * The stock price at the beginning of the period (SAR) | Return on the base price |
|---|---|---|---|
| Last 3 Financial years | 0.84 | 10.02 | 8.38 % |
| Last 5 Financial years | 1.84 | 7.53 | 24.44 % |
| Last 10 Financial years | 4.34 | 18.08 | 24.00 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 17.21 |
| P/E Before Unusual Items (TTM) | 31.15 |
| P/BV | 0.63 |
| Dividend Yield | 3.17 % |
| Market Cap. (M) | 29,276.50 |
| Return on Average Assets | 2.87 % |
| Return on Average Equity | 4.05 % |
Comments Analysis: