10 things to watch on Tadawul today

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

1) Mouwasat Medical Services Co. reported net profit after Zakat and tax of SAR 528 million in 2020, up 25% year-on-year (YoY).

2) Saudi Company for Hardware (SACO) reported a net profit after Zakat and tax of SAR 85.5 million for 2020, a 39% increase YoY.

3) Abdullah Al Othaim Markets Co.’s (Al Othaim) board of directors approved the distribution of a 30% cash dividend to shareholders for the second half of 2020, at SAR 3 per share, amounting to SAR 270 million.

4) The National Company for Glass Industries (Zoujaj) turned to a net profit after Zakat and tax of SAR 2.1 million in 2020.

5) SACO’s board of directors recommended a 7.5% cash dividend for the second half of 2020, at SAR 0.75 per share.

6) Alahli Takaful Co. signed an agreement with National Commercial Bank (NCB) to renew group credit and care insurance coverage at an initial value of SAR 148 million.

7) Saudi British Bank (SABB) announced the completion of its merger with Alawwal Bank.

8) The book-building process for the initial public offering (IPO) of Theeb Rent a Car, which began on March 7, will end today, March 15, 2021.

9) AXA Cooperative Insurance Co. announced that CEO Gary Lewin passed away on Friday, March 12, 2021

10) Brent crude on Monday gained 68 cents to reach $69.90 per barrel. WTI crude also increased 68 cents to reach $66.29/bbl.