Taiba Holding reported its financial headline figures for 1Q2016. Net income was SAR49.5 million (-75.5% Y-o-Y, -34.4% Q-o-Q), operating profit was SAR53.1 million (-14.6% Y-o-Y, +12.8% Q-o-Q), while gross profit totaled SAR70.5 million (-4.6% Y-o-Y, +18.3% Q-o-Q). Management attributed the drop in net income Y-o-Y to increased cost of revenue, G&A, lower income from investment and on unfavourable base effect, with capital gains related to the sale of Bakkah Arc hotel booked in 1Q2015. The board has recommended the distribution of SAR0.50/share for 1Q2016 for shareholders as of 25 April. This implies a dividend yield of 1.5%. (Tadawul)