10 things to watch on Tadawul today

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

1) Savola Group incurred net losses after zakat and tax of SAR 520.4 million for FY18, versus net profit of SAR 1.03 billion a year earlier, driven by higher zakat expenses, increased cost of financing and FX losses.

2) The National Shipping Company of Saudi Arabia (Bahri) shareholders on April 14 will approve the board’s recommendation on paying cash dividend at 15 percent of the stock’s nominal value, or SAR 1.5 a share, totaling SAR 590.63 million for fiscal year ending on Dec. 31, 2018.

3) Yanbu Cement Co. reported a net profit after zakat and tax of SAR 91.2 million for the fiscal year 2018, a fall of 71.4 percent year-on-year (YoY), due to lower sales volume and lower average selling prices on soft demand.

4) Zahrat al Waha Trading Co.’s board of directors has recommended a 10 percent cash dividend for the fiscal year 2018, at SAR 1 per share, amounting to SAR 15 million.

5) Al Yamamah Steel Industries Co. will hold off on issuing a cash dividend for fiscal year ended September 2018.

6) Eastern Province Cement Co. reported a net profit after zakat and tax of SAR 70 million for fiscal year 2018, a 34.57 percent year-on-year (YoY) drop due to lower sales volumes on soft demand.

7) Southern Province Cement Co.’s shareholders are set to vote on a 10 percent cash dividend for the second half of 2018, during the general assembly meeting that will be held on April 18, 2019.

8) Electrical Industries Co.’s board of directors has recommended holding off on issuing a cash dividend for fiscal year 2018 in order to strengthen the company’s financial position.

9) Al Alamiya Cooperative Insurance Co. will hold off on issuing a cash dividend for fiscal year 2018 in order to strengthen the company’s financial position.

10) Brent crude on Tuesday fell 4 cents to $67.57/bbl, while WTI crude declined 11 cents to $58.92/bbl.