Alkhabeer Capital, the asset management and investment firm headquartered in Jeddah, announced Sunday that its Board of Directors has approved the audited financial statements for 2015. Alkhabeer Capital's net income for 2015 amounted to SR 67.15 million, marking an increase of 17 percent from the same period of FY2014. During the same period, total assets under management grew by 21 percent to over SR 4 billion. The Board of Directors recommended a dividend distribution of five percent per share, subject to the General Assembly approval scheduled for May 12, 2016. Musaad Aldrees, Chairman of Alkhabeer Capital's Board of Directors, said: "The year 2015 brought with it a number of significant challenges to the local and regional economy due, in part, to the substantial drop in oil prices as well as continued geopolitical tensions. Nonetheless, we are proud of Alkhabeer's numerous achievements in 2015, including lucrative strategic acquisitions and successful exits, highlighting our commitment to successful investments, and our team's significant investment expertise.
