Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Industrial Investment Group's (SIIG) board of directors recommended the distribution of 5% cash dividend for the first half of 2021, at SAR 0.5 per share.
2) United Cooperative Assurance Co.’s (UCA) board of directors recommended the use of the company’s entire statutory reserve, amounting to SAR 31.94 million, to cover part of the accumulated losses.
3) Lazurde Company for Jewelry’s shareholders approved the board of directors’ recommendation to increase capital to SAR 575 million through a rights issue worth SAR 145 million.
4) Kingdom Holding Co.’s shareholders elected members of the board of directors for the upcoming three-year term, starting June 5, 2021.
5) Ataa Educational Co. extended the duration of the binding memorandum of understanding (MoU) signed with Arabian Education and Training Group Co., to acquire 100% of the company's shares in exchange for cash and shares in Ataa Educational, for additional 90 working days.
6) Knowledge Economic City’s (KEC) board of directors approved the request of CEO Sami Almakhdhoub to not renew his employment contract, which expires on Sept. 30, 2021, citing personal circumstances.
7) Brent crude on Friday gained 58 cents to reach $71.89 per barrel. WTI crude also increased 81 cents to reach $69.62/bbl.
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