Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) The Saudi Arabian Oil Co. (Saudi Aramco) posted a 24% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 63.53 billion for Q1 2020.
2) Saudi Advanced Industries Co. (SAIC) reported a more than double profit jump YoY to SAR 8.4 million in Q1 2020.
3) Saudi Aramco will distribute SAR 70.32 billion ($18.75 billion) of cash dividends to shareholders for Q1 2020.
4) Tadawul will suspend calculating and publishing the Parallel Market Index (Nomu) by the close of trading on Thursday, May 14.
5) Zahrat Al Waha Trading Company signed a SAR 33.5 million loan facility with Saudi Industrial Development Fund (SIDF).
6) Takween Advanced Industries Co. signed an agreement to reschedule the remaining part of SAR 429.4 million Murabaha facilities from a total of SAR 1.3 billion with Arab National Bank (ANB), Samba Financial Group and Bank Albilad.
7) Sadara Chemical Co., the parent company of Sadara Basic Services Co., widened net loss after Zakat and tax by 2% YoY to SAR 1.276 billion for Q1 2020.
8) Al-Jouf Agricultural Development Co. will distribute 5% cash dividend for H2 2019 on May 21, 2020, through Al Rajhi Bank.
9) Brent crude on Wednesday fell 45 cents to reach $29.53 per barrel. WTI Crude also decreased 17 cents to reach $25.61/bbl.
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