Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Savola Group reported a net profit after Zakat and tax of SAR 221.9 million for 2021, a plunge of 76% year-on-year (YoY).
2) United Wire Factories Co.’s (Aslak) board of directors declared a 4.5% cash dividend for the period ended 2020 and the second half of 2021, at SAR 0.45 per share.
3) Savola Group's board of directors recommended a 2% cash dividend, or SAR 0.2 per share, for 2021.
4) Al Rajhi REIT Fund will pay a cash dividend at 2.8%, or SAR 0.28 per unit, to unitholders for the period from July 1-Dec. 31, 2021.
5) Saudi Cement Co.'s board of directors recommended a 20% cash dividend for H2 2021, at SAR 2 per share.
6) stc invested $1 billion (SAR 3.75 billion) in establishing cloud and digital hub for the MENA region.
7) SABB Takaful Co. announced the renewal of the group creditor policy worth SAR 94 million with Saudi British Bank (SABB), a related party.
8) Saudi Cable Co. announced that it will take the required legal procedures after its accumulated losses reached 63.01% of capital.
9) Saudi Real Estate Co. (Al Akaria) recovered SAR 35 million from the cash investment (subscription) amount of SAR 40 million in Alinma Real Estate Fund.
10) Brent crude on Wednesday gained 17 cents to reach $89.33 per barrel. WTI crude also increased 13 cents to reach $88.33/bbl.
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