Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Advanced Petrochemical Co.’s (Advanced) board of directors recommended a 6.5% cash dividend for the third quarter of 2020, at SAR 0.65 per share, amounting to SAR 140.7 million.
2) Mobile Telecommunications Company Saudi Arabia (Zain KSA) refinanced and extended the maturity date of its existing five-year syndicated Murabaha facility amounting to SAR 3.85 billion.
3) Raydan Food Co. sold four land plots spanning 2,950 square meters (sqm) in Al Rahmaniyah region.
4) Dallah Healthcare Co. said it will start receiving patients at the west extension of Dallah Hospital-Al Nakheel Complex from Oct. 3.
5) Abdullah Al Othaim Markets Co. (Al Othaim) said that there was an unexpected technical glitch in one of the refrigeration units at its Hail branch, which led to the melting of some frozen food products that deemed them unfit.
6) The Tourism Development Fund signed a cooperation agreement with Riyad Bank and Banque Saudi Fransi (BSF) to support and facilitate financing for tourism projects and encourage investment in the sector.
7) Tihama Advertising and Public Relations Co.’s shareholders approved, on Sept. 28, financial statements, along with board and audit reports for fiscal year ending March 31, 2020.
8) Saudi Vitrified Clay Pipes Co.’s shareholders elected a new board of directors for the next three-year term ending Oct. 17, 2023.
9) Brent crude on Wednesday declined 47 cents to reach $40.56 per barrel. WTI crude also decreased 43 cents to reach $38.86/bbl.