Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Al Rajhi Bank’s shareholders approved a capital increase to SAR 40 billion from SAR 25 billion through a 60% bonus issue (three shares for every five shares).
2) Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 13.8 million in Q1 2022, a decline of 55% year-on-year (YoY).
3) Seera Group Holding trimmed net losses by 52% after Zakat and tax to SAR 63 million in Q1 2022, from SAR 130 million a year earlier.
4) Halwani Bros. Co. posted a net profit after Zakat and tax of SAR 19.7 million for the first quarter of 2022, a 22% drop YoY.
5) Wafrah for Industry and Development Co. reported a net profit after Zakat and tax of SAR 6.2 million for Q1 2022, compared to a loss of SAR 199,000 in Q1 2021.
6) Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) reported a net profit of SAR 37.6 million for Q1 2022, a decline of 39% YoY.
7) Al-Baha Investment and Development Co. decreased its accumulated losses from 43.86% to 27.5% of the capital that stands at SAR 297 million, as on March 31, 2022.
8) Jarir Marketing Co.'s board of directors declared a 20.5% cash dividend at SAR 2.05 per share, for the first quarter of 2022.
9) National Gas and Industrialization Co. (GASCO) signed a MoU with MAKEEN Energy to study the feasibility of forming a company to establish, manage, operate and maintain gas facilities, stations and networks.
10) Brent crude dropped 1.91% to reach $103.92 per barrel. WTI crude lost 1.92% to reach $101.11/bbl.
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