Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) The embargo on insider trading performed by senior management and board members of Saudi-listed companies commenced yesterday, Sept. 16.
2) Maharah Human Resources Co.’s board of directors has recommended a 26.7 percent cash dividend for the fourth quarter of 2018 and the first and second quarters of 2019, at SAR 2.67 per share, amounting to SAR 100.125 million.
3) Saudi Paper Manufacturing Co.’s (SPM) board of directors team has recommended a 39.2 percent capital reduction to SAR 149 million to restructure the company’s capital, offset accumulated losses and support future growth.
4) Saudi market regulator, Capital Market Authority (CMA), has imposed a fine of SAR 80,000 on National Agricultural Marketing Co. (Thimar) due to violating the listing regulations.
5) National Medical Care Co.’s (Care) shareholders have approved a board recommendation to terminate the current board of directors’ term as of Sept. 15, 2019.
6) National Gas & Industrialization Co. (GASCO) has recommended a 4.25 percent quarterly cash dividend for the first quarter of the fiscal year 2019, at SAR 0.425 per share, amounting to SAR 31.875 million.
7) Malath Cooperative Insurance and Reinsurance Co. has inked a memorandum of understanding (MoU) with the Ministry of Housing to develop, implement, and market a construction guarantee insurance product under the Saudi Sustainable Building program.
8) Leejam Sports Co.’s board of directors has appointed Justin Musgrove as a new chief executive officer as of September 16, 2019.
9) Brent crude on Tuesday declined 60 cents to reach $68.42/bbl, while WTI crude also decreased 82 cents to stand at $62.08/bbl.
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