Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Saudi Basic Industries Corporation’s (SABIC) board has recommended a SAR 2 per share cash dividend for the first half of 2017 to be paid on August 17.
2) Nama Chemicals Co. has completed the sale of fractional shares resulting from its capital cut at an average price of SAR 15.83 per share and a total value of SAR 141,922. Proceeds will be deposited into eligible shareholders accounts starting from Thursday June 22.
3) Saudi Industrial Export Co. (SIEC) and Wafrah for Industry and Development Co. have extended the memorandum of understanding (MoU) inked on March 25 to represent Wafrah and distribute its products abroad for another three months starting from June 25, 2017.
4) Knowledge Economic City has appointed Adil Al Mandil as board chairman for the current term ending July 27, 2018 after the former chairman, Abdullah Raheemi resigned. The company has also appointed Amin Shaker as board member and vice chairman of the board.
5) Riyad REIT has appointed Waleed Al Qasim as a board member effective June 21, 2017 after Faisal Al Duhaim resigned.
6) Riyad Bank’s board of directors recommended on Tuesday a 3.5 percent cash dividend (SAR 0.35 per share) to be issued for the first half of 2017, amounting to a total of SAR 1.05 billion.
7) Crude oil remained under pressure on Thursday, after prices slipped below $45-mark in the previous session. Brent crude was last down 0.07 percent at $44.79/bbl and WTI crude fell 0.05 percent to $42.51/bbl.
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