Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Samba Financial Group’s shareholders approved SAR 0.50 per share cash dividend for H2-2016 to be paid on May 16.
2) Emirates Telecommunications Corporation has raised its stake in Etihad Etisalat Co. (Mobily) from 27.65 percent to 27.68 percent.
3) Mohammed Al Suhaibani has raised his stake in Arab Sea Information Systems Co. from 38.37 percent to 38.38 percent.
4) Bisha Agricultural Development Co. said that trading its stocks in the main market and over the counter will be halted in line with the new Capital Market Authority’s regulations for companies with accumulated losses of 20 percent or more.
5) Following its capital increase, Saudi Investment Bank (SAIB) has sold 1,251 fractional shares at SAR 12.63 per share for a total of SAR 15,800, and deposited the funds today in the shareholders’ accounts.
6) The Saudi Arabian Cooperative Insurance Company (SAICO) has received approval from the Saudi Arabian Monetary Authority’s (SAMA) to extend its temporary licenses for aviation insurance policies.
7) Jabal Omar Development Co. will change its fiscal year from Hijri calendar to Georgian calendar which ends December 31.
8) The board of directors of Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) has appointed Abdul Rahman Al Zuwaidi as vice chief executive for the company and acting CEO for six months from May 1, 2017.
9) Yanbu Cement will pay SAR 2 per share cash dividend for H2-2016 on May 15.
10) Oil prices were slightly weaker on Monday, with Brent crude down 0.2 percent at $51.93 per barrel, while West Texas Intermediate (WTI) slipped 0.2 percent to $49.24.
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