10 things to watch on Tadawul today

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

1) Saudi Investment Bank (SAIB) reported a 46.4% year-on-year (YoY) slump in Q1 2020 net profit to SAR 150.7 million, compared to SAR 281.4 million in year-earlier period.

2) Jabal Omar Development Co. decided to suspend rental payment from May to November 2020, amounting to SAR 270 million, due to force majeure resulting from COVID-19 pandemic.

3) Electrical Industries Co. (EIC) reported a net profit after Zakat and tax of SAR 848,000 for Q1 2020, against a net loss of SAR 4.16 million a year earlier.

4) Saudi Basic Industries Corp.’s (SABIC) shareholders are set to vote on amending bylaws related to the articles of incorporation, during an extraordinary general assembly on June 10.

5) Dallah Healthcare Co. reported a net profit after Zakat and tax of SAR 19.2 million for the first quarter of 2020, down 46% year-on-year (YoY).

6) The second tranche of the fifth phase of Saudi Arabia's inclusion in FTSE Russell Emerging Market Index will start on June 22.

7) Saudi Fransi Capital announced the distribution of 1.228% cash dividend to Bonyan REIT Fund unit holders for the period starting Nov. 1, 2019, to April 30, 2020, amounting to SAR 20.001 million.

8) Saudi Vitrified Clay Pipes Co. (SVCP) extended the terms implementation period of the agreement to acquire 75% of Advanced Piping Solutions Co. for additional 90 days.

9) Al Kathiri Holding Co. submitted a request to increase capital through a SAR 45.2 million rights issue to the Capital Market Authority.

10) Brent crude rose 29 cents to $34.94 per barrel on Wednesday morning, while WTI crude gained 19 cents to $32.15/bbl.