Taiba Holding announces the results of its 91st Board of Directors meeting which includes cash dividend distribution to shareholders

The Board of Directors of Taibah Holding held its 91st meeting at the company’s headquarters in Madinah Al Munawwarah on Wednesday 23/3/1433 H corresponding to 15/02/2012. The recommendation of the 26 th Ordinary General Meeting of Shareholders of Taibah to approve the distribution of dividends distributed during the fiscal year 2011 (7.5%) of the share capital amounting to (112,500,000) one hundred and twelve million five hundred thousand riyals by (0.75) riyals per share. The Board also recommended to the general assembly to pay additional profits for 2011 by 2.5% of the capital by (37,500,000) thirty seven million five hundred thousand riyals by (0.25) r Yale for each share shall be paid after the approval of the Association within two weeks from the date of the meeting of the shareholders registered in the Tadawul records as at the end of the trading day of the said Assembly, which will be announced on the date later in sha Allah, thus the total amount of dividends distributed and proposed for distribution for In the fiscal year 2011 (150 million) one hundred and fifty million riyals by 10% of the capital by (1) riyals for each share. The Board of Directors also decided at the same meeting to issue a dividend of JD (37,500,000) for the first quarter of the current year ending 31/03/2012 at a rate of (2.5%) of SR (0.25) per share. To shareholders of Taiba Holding registered in the trading records as at the end of trading on Saturday 08/05/1433 H corresponding to 31/03/2012 and will be distributed to the shareholders within two weeks from the date of maturity mentioned, God willing. Mr. Abdullah bin Mohammed Al-Zaid, Vice Chairman and Managing Director of Latiba Holding, said: “The Board has considered the items on its agenda and taken the necessary decisions. 1. Approval of the financial statements of Taeba Holding for the financial year ending on 31/12/2011 in preparation for its approval by the 26th ordinary general assembly of shareholders of Taiba which will be held later in sha Allaah. 2- Suspending the agreement reached on 04/04/2010 for the development of the answer area located in the eastern part of the central area of ​​Madinah between Taiba Holding and its real estate arm. Al-Aqeeq Company for Real Estate Development and its tourist arm The Arab Company for Tourist Areas (Arak) Al Baraka on the other hand, which was previously announced on Tadawul website on 20/04/1431 H corresponding to 05/04/2010 where a good decision to stop the agreement due to the failure of the completion of the procedures related to the work of the company for real estate development as the area of ​​the answer will be regulated and developed within Planned General of Medina, which is currently being completed by the State.