Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Al Rajhi Bank’s board of directors has recommended a 25 percent cash dividend for the second half of 2017, at SAR 2.5 per share, amounting to SAR 4.063 billion.
2) National Medical Care Co.’s (Care) board of directors has recommended a 10 percent cash dividend (SAR 1 per share) for fiscal year 2017, amounting to SAR 44.85 million.
Separately, the company said it expects to increase its bed capacity to 825 by the end of Q1 2018, from the current 593 beds.
3) Riyad Bank said it would have to pay additional zakat claims of SAR 3.5 billion for the years 2008-2013, after the zakat authority applied a new accounting method to banks' long-term investments.
4) Abdullah A. M. Al-Khodari Sons Company’s (Al-Khodari) board of directors has amended a capital hike recommendation to SAR 458 million through the issuance of new shares.
5) Etihad Atheeb Telecommunication Co. (GO) has announced that its accumulated losses fell to SAR 225.95 million, or 47.82 percent of capital as of Feb. 13.
Separately, Securities Depository Center Co. (Edaa) said it adjusted on February 18 the accounts of GO's eligible shareholders after capital reduction.
6) MetLife AIG ANB reported SAR 37.33 million of net loss in Q4 2017, compared to a loss of SAR 6.37 million in the same period last year.
7) Al Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful) posted a of SAR 48.95 million for Q4 2017, up 35 percent YoY due to a surge in net underwriting surplus.
8) The total consumer spending in Saudi Arabia is expected to remain flat over 2017-2020 given the impact of government's multiple reform initiatives, Al Rajhi Capital said in a report.
9) Crude oil prices were higher on Monday, with Brent crude last up 0.9 percent at $65.39/bbl while WTI crude rose 1,3 percent to $62.5/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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