Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Herfy Food Services Co.’s board of directors has recommended an 11 percent cash dividend for the second half of 2018, at SAR 1.1 per share, amounting to SAR 71.15 million.
2) Al Rajhi Bank’s extraordinary general assembly will vote on April 3 on a 53.8 percent capital hike through bonus shares to SAR 25 billion from SAR 16.25 billion.
3) Saudi Capital Market Authority (CMA) approved Arriyadh Development Co.’s (ARDCO) request to increase capital by 33.33 percent to SAR 1.33 billion from SAR 1.78 billion through the issue bonus shares.
4) National Petrochemical Co. (Petrochem) has signed on Tuesday a SAR 550 million shariah-compliant financing facility agreement with Saudi British Bank (SABB).
5) Electrical Industries Co.’s subsidiary Wahah Electric Supply Company of Saudi Arabia (WESCOSA) signed an agreement with South Korean Hyundai Electric & Energy Systems Co. Ltd. to provide technical support services of medium voltage switch gear.
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