10 things to watch on Tadawul today

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

1) Alkhabeer REIT Fund will start trading on Saudi Stock Exchange (Tadawul) from Wednesday, March 20, Tadawul said in a statement on Monday.

2) National Gas and Industrialization Co.’s (GASCO) net profit after zakat and tax fell 8 percent year-on-year (YoY) to SAR 117.1 million on lower sales of gas and cylinders, and higher selling and marketing expenses.

3) Al Ahsa Development Co. (ADC) has finalized the 25 percent stake acquisition in Twareat Medical Company for SAR 15 million.

4) Bank Albilad’s extraordinary general assembly will vote on April 9 on a 25 percent capital hike to SAR 7.5 billion from SAR 6 billion, through issuance of one bonus share for every four shares held.

5) Saudi Steel Pipe Co.’s board of directors has recommended to hold off on issuing a cash dividend for fiscal year 2018.

6) National Gas & Industrialization Co. (GASCO) has recommended a 4.25 percent quarterly cash dividend for the first quarter of the fiscal year 2019, at SAR 0.425 per share, amounting to SAR 31.875 million.

7) Abdullah A. M. Al-Khodari Sons Co. has terminated its SAR 92.4 million contract with the Saudi Ministry of Transport, the company said in a bourse filing.

8) Etihad Atheeb Telecommunication Co.’s (GO) lawsuit against the Communications and Information Technology Commission (CITC) has been postponed until April 29, 2019.

9) Al-Babtain Power Telecommunication Co. has signed a contract worth $16.31 million (SAR 61.15 million) to supply solar power steel structures to Jordan’s Baynouna solar project.

10) Brent crude was up 33 cents to $67.49/bbl, while WTI crude gained 53 cents to $59.05/bbl.