Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) AXA Cooperative Insurance Co. reported a net profit before zakat of SAR 76.4 million for fiscal year 2018, a 27 percent year-on-year (YoY) increase on lower incurred claims and higher investment income.
2) The Saudi Stock Exchange (Tadawul) has suspended trading on Al Tayyar Travel Groupstarting today, March 25 upon the company’s request.
3) Makkah Construction and Development Co.’s board of directors has recommended a 20 percent cash dividend for the fiscal year 2018/2019, at SAR 2 per share, amounting to SAR 329.63 million.
4) SABB Takaful Co. turned to a net profit before zakat of SAR 1.1 million for fiscal year 2018, versus a net loss of SAR 5.5 million a year earlier, backed by higher fees and commissions, a decline in net incurred claims and underwriting costs.
5) The Saudi Stock Exchange (Tadawul) on Monday has published the procedures of suspending listed securities and over-the-counter (OTC) trading.
6) Abdullah Al Othaim Markets Co.’s shareholders are set to vote on a 30 percent cash dividend for the fiscal year 2018, during the general assembly meeting that will be held on April 18, 2019.
7) Taiba Holding Co. has disclosed the details of its prospective capital hike from SAR 1.5 billion to SAR 1.6 billion to finance the acquisition of the minority interest in Al Aqeeq Real Estate Development Co. and Arab Resort Areas Co. (ARAC) to its shareholders.
8) Fitaihi Holding Co.’s shareholders are set to vote on a 2.5 percent cash dividend for the second half of 2018, during the general assembly meeting that will be held on April 18, 2019.
9) Etihad Atheeb Telecommunication Co. (GO) has named Saudi Kuwaiti Finance House as financial advisor for its capital cut, the company said in a bourse statement.
10) Brent crude on Tuesday gained 12 cents to reach $67.33/bbl, while WTI crude rose 44 cents to $59.26/bbl
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