Taiba Holding announces the distribution of additional profits to shareholders for the year 2012 and quarterly profits for the first quarter of 2013

  • February 24, 2013
The Board of Directors of Taiba Holding Company held its meeting at Al Ola Arak Resort in Al Ola on Sunday, 14/04/1434 H corresponding to 24/02/2013, where it decided to recommend to the 27th Ordinary General Assembly for the shareholders of Taiba to approve the distribution of dividends paid to Taiba shareholders during the fiscal year Which is equivalent to (8%) of the capital of SR 120,000,000 (SR 0.80) per share. The Board also recommended to the General Assembly that additional profits be paid for 2012 at a rate of 4% SR 60,000,000 (SR 0.40) per share shall be paid after the approval of the Assembly The two weeks from the date of the meeting of the shareholders registered in the trading records as at the end of trading on the date of the Assembly of the said, which will be announced the date of the later in sha Allah, thus bringing the total amount of dividends distributed and proposed for distribution for the fiscal year 2012 (180,000,000) one hundred and eighty million SR 12% of the capital by (1.2) riyals per share. At the same meeting, the Board of Directors also decided to issue a dividend of SR (45,000,000) for the first quarter of the year ending 31/03/2013 at a rate of SR (45,000,000) per share. Which are registered in Tadawul records as at the end of trading on Sunday 19/05 / 1434H corresponding to 31/03/2013. These dividends will be distributed to shareholders within two weeks of the said maturity date, God willing. Mr. Abdullah bin Mohammed Al-Zaid, Vice Chairman of the Board of Directors, said: “The Board has considered the items on its agenda and taken the necessary decisions. The most important of these was the approval of the financial statements of Taibah Holding for the fiscal year ended December 31, 2012 as a prelude to ratification by the Twenty-seventh Ordinary General Assembly of the shareholders of Taiba, which will be held at a later date, God willing.