The total annual distribution will amount to $274.6 million Image Credit: Shutterstock

Dubai: Shareholders of Kingdom Holding Co. (KHC) approves the board of directors' recommendation to pay a 2.8 per cent cash dividend, amounting to $0.075 (Dh0.28) per share, for 2024 from retained earnings, according to Saudi financial news portal report.

KHC is a Saudi financial services conglomerate holding company, based in Riyadh and publicly listed on Tadawul or the Saudi Exchange.

KHC will distribute a quarterly dividend of 0.7 per cent , or $0.019 (Dh0.07) per share, totaling $69 million (Dh253 million).

The total annual distribution will amount to $274.6 million (Dh1 billion). In a statement to Tadawul, KHC announced that the board is also authorised to pay interim dividends on a semi-annual or quarterly basis for 2024.

Additionally, nine board members were elected for the upcoming three-year term starting June 5, 2024. The elected board members are Saudi prince Al Waleed Bin Talal, Abdul Majeed Al Haqbani, Lama Al Sulaiman, Talal Al maiman, Sarmad Zok, Adel Al Abdul Salam, Hisham Al-Habib, Reem Asaad, and Tamim Jabr.