Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Aldrees Petroleum and Transport Services Co.’s board of directors has recommended a 10 percent cash dividend for the fiscal year 2018, at SAR 1 per share, amounting to SAR 50 million.
2) Bank Aljazira has obtained the approval of the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, on the new board appointments.
3) Aldrees Petroleum and Transport Services Co.’s board of directors has recommended a 20 percent capital hike to SAR 600 million from SAR 500 million through the issue bonus shares.
4) Saudi Arabia’s public finances are on a more sustainable footing, attributed to higher oil and non-oil revenues as well as more targeted spending, said the latest MENA Economic outlook (2019-2020) by National Bank of Kuwait (NBK).
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