Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Walaa Cooperative Insurance Co. (Walaa) reported a net profit before Zakat of SAR 23.2 million for fiscal year 2019, down 77% year-on-year (YoY).
2) Nomu-listed Arab Sea Information System Co. submitted a request to transition its shares from the parallel market to the main market via the dedicated electronic system.
3) Saudi Telecom Co. (STC) approved the purchase of a number of company’s shares, with a maximum of 5.5 million, and an amount not to exceed SAR 300 million.
4) Arabian Centres Co. approved the issuance of Sharia compliant sukuk of up to $1 billion (SAR 3.75 billion) or its equivalent in any other relevant currency.
5) Dr. Sulaiman Al Habib Medical Services Group (HMG) started trading March 17, on Tadawul under the symbol 4013 in the healthcare sector, with a 10% daily price fluctuation limit per share.
6) Al Maather REIT Fund will distribute a 6.2% cash dividend for FY2019, at SAR 0.62 per unit, amounting to SAR 38.05 million.
7) National Gypsum Co. recommended a 3.5% cash dividend for FY2019, at SAR 0.35 per share, amounting to SAR 11.08 million.
8) Makkah Construction and Development Co. (Makkah Construction) inked an agreement with the General Authority of Zakat and Tax (GAZT) to settle Zakat claims for the period between 2010- 2015.
9) Jarir Marketing Co.’s (Jarir) shareholders are set to vote on authorizing the board of directors to distribute interim dividends on a semi-annual and quarterly basis for the fiscal year 2020, during its general assembly meeting to be held on April 13.
10) Brent crude on Wednesday gained 41 cents to reach $29.14 per barrel. WTI Crude also increased 17 cents to reach $27.12/bbl.
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