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 Arabia’s Ministry of Finance has closed its March 2019 sukuk issuance under the government’s riyal-denominated sukuk program, with the issuance size set at SAR 6.075

billion.

2) Saudi Aramco Total Refining and Petrochemical Company (SATORP) reported a net profit after zakat and tax of SAR 446.9 million for fiscal year 2018, a 3.6 percent year-on-year (YoY) increase.

3) Hail Cement Co.’s shareholders approved on Monday audited financial statements and audit report for the fiscal year ended Dec. 31, 2018.

4) Etihad Atheeb Telecommunication Co. (GO) applied on Tuesday to get the Capital Market Authority’s (CMA) approval on its 25.81 percent capital reduction

5) Basic Chemical Industries Co.’s (BCI) board of directors has recommended holding off on issuing a cash dividend for fiscal year 2018 in order to boost solvency margin and support the company’s future activities.

6) Samba Financial Group’s (Samba) shareholders approved the board of directors’ proposal for a 10 percent cash dividend, to be issued at SAR 1 per share for the second half of 2018, totaling SAR 2.32 billion.

7) Saudi Company for Hardware’s (SACO) 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 30, 2019.

8) Bank Aljazira’s shareholders are set to vote on a 5 percent cash dividend for the fiscal year 2018, during the general assembly meeting that will be held on April 16, 2019.

9) Saudi-based Al Tayyar Travel Group, Saudi Telecom Company and Kingdom Holding on Tuesday announced their expected profits from the sale of their respective stakes in Dubai-based Careem to Uber Technologies Inc.

10) Brent crude on Wednesday gained 17 cents to reach $68.14/bbl, while WTI crude rose 8 cents to $60.02/bbl.