June 3.. Kingdom Holding GA to discuss distributing cash dividends of 2.8% for 2024

Kingdom Holding Company invited shareholders to participate and vote in the Ordinary General Assembly meeting (first meeting) scheduled for Monday, June 3, where the terms include voting on the Board of Directors’ recommendation to distribute cash dividends to shareholders from retained earnings during the year 2024 at a rate of 0.7% (2.8% for the entire year). ) of the nominal value of the share, at the rate of 7 halalas quarterly for each issued share, so that the total becomes 0.28 riyals for the entire year, with a total of 259.4 million riyals per quarter, so that the total special distributions for the entire year becomes 1,037.6 million riyals, provided that shareholders’ eligibility is as follows:

The first payment: The eligibility for dividends will be for shareholders registered in the company’s records at the end of trading on 12/04/1445 AH, corresponding to 06/10/2024 AD, and disbursement will take place ten working days later from the second trading day following the entitlement date.

The second installment: The eligibility for dividends will be for shareholders registered in the company’s records at the end of trading on 01/25/1446 AH, corresponding to 07/31/2024 AD, and the disbursement will take place ten working days later from the second trading day following the entitlement date.

The third installment: The eligibility for dividends will be for shareholders registered in the company’s records at the end of trading on 03/28/1446 AH, corresponding to 10/01/2024 AD, and disbursement will take place ten working days later from the second trading day following the entitlement date.

The fourth installment: The eligibility for dividends will be for shareholders registered in the company’s records at the end of trading on 06/30/1446 AH, corresponding to 12/31/2024 AD, and the disbursement will take place ten working days later from the second trading day following the entitlement date.

The rest of the Assembly’s agenda items were as follows:

1. Reviewing the Board of Directors’ report for the financial year ending on December 31, 2023 AD and discussing it.
2. Review and discuss the financial statements for the fiscal year ending on December 31, 2023.
3. Vote on the company’s auditor’s report for the financial year ending on December 31, 2023, after discussing it.
4. Vote on discharging the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023 AD.
5. Voting on the deal to purchase Citigroup shares between Kingdom Holding Company and the company’s Chairman of the Board of Directors, Prince Alwaleed bin Talal bin Abdulaziz Al Saud, at a value of 1.68 billion riyals ($449,565,000) without preferential terms.
6. Voting on the election of members of the Board of Directors from among the candidates for the next session, which begins on 06/05/2024 AD and for a period of three years, ending on 06/04/2027 AD.
7. Vote on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2024 AD, and the first quarter of the fiscal year 2025 AD, and determine his fees.
8. Vote on disbursing (600,000 riyals) a reward to independent members of the Board of Directors at (200,000 riyals) for each member for the fiscal year ending on December 31, 2023 AD.
9. Vote on authorizing the Board of Directors to distribute interim cash dividends on a semi-annual or quarterly basis for the fiscal year 2024.