Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Amana Cooperative Insurance Co.’s shareholders approved a 45.8% capital cut to SAR 130 million from SAR 240 million by cancelling 11 million shares.
2) Fawaz Abdulaziz Alhokair Co. signed two new franchise agreements with Alo Yoga and Flying Tiger Copenhagen.
3) Etihad Etisalat Co.’s (Mobily) shareholders approved the board’s recommendation of a 5% cash dividend for 2020, at SAR 0.5 per share, amounting to SAR 385 million.
4) Middle East Paper Co. (MEPCO) relocated its headquarters to Al-Andalus district from Al-Sururiyya district in Jeddah.
5) Arabian Aramco Total Services Co.’s shareholders will vote on June 13, 2021, on financial statements, as well as board and auditor reports for 2020.
6) Brent crude on Tuesday gained 20 cents to reach $68.66 per barrel. WTI crude also increased 12 cents to reach $66.17/bbl.
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