Kingdom Holding unveils 584% higher profits in 2022, dividends for 2023

Kingdom Holding unveils 584% higher profits in 2022, dividends for 2023

Kingdom Holding Company posted a 583.87% year-on-year (YoY) hike in net profit after Zakat and tax to SAR 6.95 billion in 2022, compared to SAR 1.01 billion.

The Saudi firm generated revenues worth SAR 2.49 billion last year, higher by 65.22% than SAR 1.50 billion in 2021, according to the income statements.

Earnings per share (EPS) jumped to SAR 1.88 during January-December 2022 from SAR 0.27 in 2021.

Dividends for 2023

The board of Kingdom Holding recommended cash dividends distribution from the retained earnings amounting to SAR 1.03 billion for 2023.

The company would pay out SAR 0.28 per share, equivalent to 2.80% of the share nominal value, for 3.70 billion eligible shares.

Meanwhile, the eligibility and payment dates will be announced at a later time.

In the first nine months (9M) of 2022, the Tadawul-listed firm logged net profits after Zakat and tax of SAR 6.70 billion, a 996.02% leap from SAR 611.99 million in 9M-21.