Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) The Saudi Exchange (Tadawul) posted net profit of SAR 501 million (EPS: SAR 4.17) for 2020, compared to a net profit of SAR 153 million a year earlier.
2) Etihad Etisalat Co. (Mobily) and Mobile Telecommunication Company Saudi Arabia (Zain KSA) are studying several options regarding Towers Co., including the possibility of offering a share not exceeding 30% in the Saudi market.
3) Arab National Bank's (ANB) board of directors recommended the distribution of 3.5% cash dividend, or SAR 0.35 per share, for H1 2021.
4) The Capital Market Authority (CMA) approved Alandalus Property Co.’s request for increasing its capital to SAR 933.33 million from SAR 700 million.
5) Al-Jouf Agricultural Development Co.’s shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021.
6) Saudi Advanced Industries Co.’s (SAIC) shareholders approved the board’s recommendation on paying cash dividend at 2.5%, or SAR 0.25 a share, totaling SAR 12.5 million for H2 2020.
7) Brent crude on Friday gained 62 cents to reach $76.18 per barrel. WTI crude also increased 75 cents to reach $74.05/bbl.
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