Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) National Agricultural Development Co.’s (NADEC) shareholders approved capital increase from SAR 847 million to SAR 1.016 billion through issuance of 20% bonus shares.
2) Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 92 million for the first quarter of 2020, an increase of 27% year-on-year (YoY).
3) United Electronics Co.’s (eXtra) shareholders approved a 20% capital hike to SAR 600 million from SAR 500 million through the issue of bonus shares.
4) Saudia Dairy and Foodstuff Co.’s (SADAFCO) board of directors recommended a 25% cash dividend for the second half of fiscal year 2019-20 ended March 31, 2020, amounting to SAR 81.25 million.
5) Fitaihi Holding Group’s shareholders approved withholding dividend for the second half of 2019.
6) Al Khaleej Training and Education Co.'s shareholders approved the board of directors' recommendation on paying cash dividend at 2.5% of capital for FY2019.
7) National Industrialization Co.’s (Tasnee) shareholders approved the business transactions and contracts concluded with Banque Saudi Fransi (BSF) in the fiscal year 2019.
8) Thob Al Aseel Co. signed a contract worth SAR 97.5 million with National Unified Procurement Company (NUPCO) to supply medical equipment.
9) Osool and Bakheet Investment Co., fund manager of Al-Maather REIT Fund, said that total value of rent revision requests since March amounted to SAR 2.5 million, or 4.5% of the total annual rents of the fund.
10) Brent crude rose 11 cents to $29.83 per barrel on Thursday morning, while WTI crude gained 15 cents to $24.14/bbl.
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