Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Almarai Co.’s consolidated net profit after zakat and tax declined 8.7 percent year-on-year (YoY) to SAR 918.6 million in the first half of 2019 due to sluggish growth in the fresh dairy and juice market this year.
2) Riyad Bank’s board of directors has declared a 5.2 percent cash dividend for the first half of 2019, at SAR 0.52 per share, amounting to SAR 1.56 billion.
3) Alujain Corp. signed on July 4 a non-binding agreement to acquire the non-listed National Fertilizers Co. (Mobi), the firm said in a bourse statement.
4) Alinma Bank has received the Saudi Arabian Monetary Authority’s (SAMA) approval on the general assembly’s decision to elect the board of directors for the new three-year term, which started May 21, 2019.
5) Salama Cooperative Insurance Co. has renewed its license with the Saudi Council of Cooperative Health Insurance (CCHI) for one year, ending on July 1, 2020.
6) Arabian Pipes Co.’s accumulated losses fell to SAR 20.9 million as of June 23, 2019 representing 5.25 percent of capital.
7) Tourism Enterprise Co.’s (Shams) board of directors has withdrawn from the acquisition deal of Hemaia Group, the company said in a bourse statement.
8) Brent crude on Monday gained 1 cent to reach $64.24/bbl, while WTI crude also increased 6 cents to reach $57.57/bbl.
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