Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Riyad Bank reported a net profit of SAR 6.025 billion for 2021, a 28% increase year-on-year (YoY).
2) Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 159.6 million for 2021, a drop of 43% YoY.
3) Saudi Tadawul Group Holding Co. (Tadawul Group) reported a net profit after Zakat and tax of SAR 587.7 million in 2021, up 17% YoY.
4) The Company for Cooperative Insurance (Tawuniya) announced the renewal of the insurance policy of Saudi Arabian Airlines (SAUDIA) to provide health insurance services for the airlines’ employees and their families.
5) Arriyadh Development Co. (ARDCO) liquidated 95% of its investment portfolio generating nearly SAR 25 million profit from the sale of shares.
6) Saudi Arabian Amiantit Co. and Saudi Industrial Services Co. (SISCO) said their associate firm, International Water Distribution Co. (TAWZEA), achieved financial closure to establish independent sewage treatment plants in Madinah, Tabuk and Buraidah.
7) Aseer Trading, Tourism and Manufacturing Co. obtained a short-term, revolving Murabaha financing facility worth SAR 200 million from Al Rajhi Bank.
8) Tadawul Group’s board of directors approved a 30% cash dividend (SAR 3 per share) for 2021, amounting to SAR 360 million.
9) Brent crude on Friday gained $9.74 to reach $127.85 per barrel. WTI crude also increased $7.78 to reach $123.46/bbl.
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