9 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Saudi Telecom Co. (STC) reported a net profit after Zakat and tax of SAR 2.91 billion for the first quarter of 2020, a rise of 6% year-on-year (YoY).

2) Saudi Ceramic Co. reported a net profit after Zakat and tax of SAR 10.6 million for the first quarter of 2020, against a net loss of SAR 25 million a year earlier.

3) Saudi Electricity Co.’s (SEC) board of directors recommended a 7% cash dividend for the fiscal year 2019, at SAR 0.7 per share, amounting to SAR 749.3 million.

4) Shareholders of National Shipping Company of Saudi Arabia (Bahri) approved the board’s recommendation on distributing a 10% cash dividend, or SAR 1 per share, for H2 2019.

5) Aseer Trading, Tourism & Manufacturing Co.’s (Aseer) shareholders will vote, on May 13, on audited financial statements, as well as audit and board reports for FY2019.

6) The net assets of Derayah REIT reached SAR 999.87 million in Q1 2020.

7) Chubb Arabia Cooperative Insurance Co. postponed its extraordinary general assembly (EGM), slated for April 20, due to lack of quorum.

8) STC’s shareholders approved, during the extraordinary general assembly on April 20, buying back 5.5 million shares at SAR 300 million.

9) Brent crude on Wednesday declined $2.54 to reach $16.79 per barrel. WTI Crude also decreased 42 cents to reach $11.15/bbl.