Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Yamama Cement Co. reported a net profit after zakat and tax of SAR 256.3 million for the fiscal year (FY) 2019, compared to a net loss of SAR 51.84 million a year earlier.
2) Al Rajhi Bank reported a net profit of SAR 10.2 billion for FY2019, an over twofold increase year-on-year (YoY).
3) Fawaz Abdulaziz Alhokair Co.’s net profit after zakat and tax edged down 16.7% YoY to SAR 234.3 million in the nine-month period ended Dec. 31, 2019.
4) Tihama Advertising and Public Relations Co. reported net losses of SAR 9.7 million for the nine-month period ended Dec. 31, 2019, against net profit of SAR 3.5 million a year earlier.
5) Riyad Bank announced its intention to issue dollar-denominated international Tier 2 sukuk for a total value not exceeding $3 billion (SAR 11.25 billion).
6) Bank Albilad recommended a 5% cash dividend for the second half of 2019, at SAR 0.5 per share, amounting to SAR 375 million.
7) Saudi Arabia Refineries Co. (SARCO) said the court has rejected its lawsuit filed against Saudi Aramco.
8) Walaa Cooperative Insurance Co. (Walaa Insurance) received the approval of the Saudi Arabian Monetary Authority (SAMA) to renew its insurance license for 3 years starting Feb. 20.
9) Sumou Real Estate Development Co. posted a net profit of SAR 30.4 million, up 4% YoY in the first 6 months of 2019.
10) Brent crude on Wednesday gained 93 cents to reach $54.94 per barrel. WTI Crude also increased 63 cents to reach $50.57/bbl.
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