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Sat 23 Feb 2013 04:44 PM

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Kingdom Holding to pay $147m in dividends

Investment vehicle of Saudi billionaire Prince Alwaleed announces dividend total for 2013

Kingdom Holding to pay $147m in dividends

Kingdom Holding Co, the international investment firm of Saudi billionaire Prince Alwaleed bin Talal will pay dividends worth SR550.3m ($146.75m) this year, in quarterly installments, the company said on Saturday.

Kingdom Holding will "distribute quarterly cash dividends from retained earnings of 1.25 percent (5 percent 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 Riyals per share) for a total of SR137.6m as quarterly cash dividends totalling to SR550.3m for the year" Kingdom said in a statement.

The firm made a net profit of SR209.6m ($55.9m) in the fourth quarter, compared with SR187.8m in the same period a year earlier.

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