Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Al Rajhi Bank reported a net profit of SAR 2.89 billion for the first quarter of 2019, a 21 percent year-on-year increase on higher net special commission income and fees from banking services.
2)The National Commercial Bank (NCB) reported a net profit of SAR 3.2 million for the first quarter of 2019, a 5.9 percent year-on-year (YoY) increase on a 3.6 percent rise in gross operating income and higher investment-related income.
3)Yanbu National Petrochemical Co. (Yansab) reported a 38.05 percent slump year-on-year (YoY) in net profit after zakat and tax to SAR 390.6 million for Q1 2019.
4)Saudi Arabia's Capital Market Authority (CMA) approved Saudi Chemical Co.’s request to increase its capital by 33.33 percent to SAR 843.2 million from SAR 632.4 million through the issue of bonus shares.
5) Qassim Cement Co. has recommended a 6 percent quarterly cash dividend for the first quarter of the fiscal year 2019, at SAR 0.6 per share, amounting to SAR 54 million.
6) Saudi Automotive Services Co.’s (SASCO) shareholders have approved a 5 percent cash dividend for the fiscal year 2018 during the general assembly meeting held on April 22, 2019.