Saudi- Alkhabeer to distribute cash dividends of SR40.7m to shareholders

(MENAFN- Arab News) Alkhabeer Capital a leading asset management and investment firm in Saudi Arabia has announced that its board of directors approved the audited financial statement of 2014 and made a recommendation to the general assembly to distribute cash dividends of SR40.7 million to its shareholders for the fiscal year ended Dec. 31 equivalent to SR0.50 per share or five percent of the share par value. The date of such distribution will be announced following the approval of the shareholders' general assembly.

The payment of this dividend for the second consecutive year comes as a result of the continued growth of Alkhabeer's profitability emphasizing Alkhabeer's commitment to ensure sustainable value for its shareholders.

Alkhabeer has achieved significant growth in its revenues for the FY 2014 to SR158.18 million equivalent to 25.8 percent while the net revenue had grown by 32 percent to reach SR57.3 million in 2014.

Saleh Mohammed Binladen chairman at Alkhabeer Capital said: 'This dividend distribution reflects Alkhabeer's continued growth year after year since inception and investors' confidence in our strategy'.

The chairman said: 'We have seen significant economic improvement this year locally regionally and internationally which has supported many of our investment decisions. We are proud of the numerous achievements we have made this year including our lucrative strategic acquisitions and successful exits highlighting our commitment to successful investments and our team's significant investment expertise.'

Alkhabeer Capital is an asset management and investment firm authorized by the Capital Market Authority.