Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Advanced Petrochemical Co. is pursuing expansions in new markets, despite cutting sales in China and Turkey due to a slump in prices, chief executive Abdullah Al-Garawi told Argaam.
2) Jadwa Investment Co. has said it will issue a 1 percent cash dividend (SAR 0.1 per share) for unitholders of Jadwa REIT Saudi Fund for the 49-day period from Feb. 11 until March 31.
3) Mulkia Investment Co. will issue a 1.7 percent cash (SAR 0.17 per share) dividend for unitholders of Mulkia Gulf REIT Fund for Q1 2018, amounting to SAR 10.2 million.
4) Saudi Arabian Monetary Authority (SAMA) will allow Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) to issue and renew insurance policies starting April 16.
5) Amana Cooperative Insurance Co. posted SAR 28.66 million in accumulated losses, accounting for 20.47 percent of its capital amounting to SAR 140 million as of April 16, 2018.
6) Alinma Makkah Real Estate Fund’s board of directors has declared a cash dividend of SAR 0.4 per unit for its first six months of operations, amounting to a total of SAR 243.6 million.
7) Rabigh Refining and Petrochemical Co. (Petro Rabigh) shareholders are set to approve on April 24 the board’s recommendation on paying cash dividend at 5 percent of capital, or SAR 0.50 a share, totaling SAR 438 million.
8) Crude oil prices were mainly positive on Tuesday, with Brent crude last up 0.4 percent at $71.67/bbl while WTI crude rose 0.4 percent to $66.51/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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