What you need to know when Tadawul opens today

02/04/2020 Argaam Special

 

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

 

1) Sahara International Petrochemical Company (Sipchem) completed the scheduled periodic turnaround maintenance activities for the Propane Dehydrogenation (PDH) Unit, owned by its affiliate, Al-Waha Petrochemical Co. (Al Waha).

 

2) Alinma Tokio Marine Co. renewed a general insurance agreement with Abdul Latif Jameel Group for 1 year, effective from April 1, for a total value of SAR 30 million.

 

3) Halwani Bros board of directors recommended a 10% cash dividend for the fiscal year 2019, at SAR 1 per share, amounting to SAR 31.43 million.

 

4) Almarai Company fully redeemed its SAR 787 million Sukuk – Series II on March 31, 2020.

 

5) Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)’s shareholders will vote, on April 26, on audited financial statements, as well as audit and board reports for FY2019.

 

6) MEFIC REIT Fund reported a net profit of SAR 28 million (SAR 0.38 per unit) for the FY2019, a 33% year-on-year (YoY) increase.

 

7) Derayah Financial will distribute 1.87% cash dividend to Derayah REIT Fund unit holders for the first quarter of 2020, at SAR 0.187 per unit, amounting to SAR 20.06 million.

 

8) The National Shipping Company of Saudi Arabia (Bahri) said that the partners of its affiliate Bahri Bunge Co. agreed to liquidate the company as of March 31, 2020.

 

9) Halwani Bros board of directors recommended a 10% cash dividend for FY2019, at SAR 1 per share, amounting to SAR 31.43 million.

 

10) Brent crude on Thursday gained $1.45 to reach $26.19 per barrel. WTI Crude increased 95 cents to reach $21.26/bbl.

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