Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) United Electronics Co. (eXtra) reported a net profit after Zakat and tax of SAR 97.5 million in Q1 2021, a rise of 20% year-on-year (YoY).
2) Almunajem Foods Co. reported an estimated net profit after Zakat and tax of SAR 97.9 million for Q1 2022, a rise of more than three-fold YoY.
3) Shareholders of Saudi Industrial Investment Group (SIIG) and National Petrochemical Co. (Petrochem) approved the merger deal.
4) Saudi Basic Industries Corp.’s (SABIC) shareholders approved the board's recommendation to distribute a 22.5% cash dividend for H2 2021.
5) Shareholders of Saudi Cement Co. approved the board's recommendation on paying a cash dividend at 20% of the capital for H2 2021.
6) Dar Al Arkan Real Estate Development Co. fully redeemed its $500 million Islamic sukuk (2022 Series 4 MTN).
7) Middle East Healthcare Co. (Saudi German Health) started on April 10 receiving patients for the Saudi German Hospital in Jeddah.
8) United Cooperative Assurance Co. (UCA) received a letter from Saudi Central Bank (SAMA) approving the insurer’s capital increase to SAR 700 million, from SAR 400 million, through rights issue offer.
9) Brent crude rose 1.80% to $100.25 per barrel. WTI crude gained 1.97% to reach $96.15/bbl.
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