What you need to know when Tadawul opens today

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

1) Electrical Industries Co. (EIC) reported a net loss after Zakat and tax of SAR 40.2 million for the fiscal year 2019, from a net profit of SAR 7.1 million a year earlier.

2) Saudi Arabia launched a SAR 120 billion initiative to implement urgent measures to mitigate the impact of coronavirus on its economic activities.

3) AlAbdullatif Industrial Investment Co. reported a net loss after Zakat and tax of SAR 11.7 million for FY2019, from a net profit of SAR 8 million a year earlier.

4) Al Yamamah Steel Industries Co. approved the board of directors’ recommendation to withhold cash dividend for the fiscal year ended Sept. 30, 2019.

5) Red Sea International Co. (Red Sea) narrowed net loss after Zakat and tax by 16.1% year-on-year (YoY) to SAR 71.9 million for FY2019 from SAR 85.7 million a year earlier.

6) Al-Jouf Agricultural Development Co. (Al-Jouf) recommended a 5% cash dividend, at SAR 0.5 per share, for the second half of 2019.

7) United Electronics Co.’s (eXtra) board of directors approved the repurchase of 100,000 maximum of treasury shares within the employee stock ownership plan (ESOP).

8) Shareholders of Tabuk Agricultural Development Co. (TADCO) approved a 46.3% capital cut to SAR 241.77 million from SAR 450 million.

9) Brent crude on Friday declined $1.49 to reach $26.98 per barrel. WTI Crude also decreased $3.28 to reach $22.63/bbl.