10 things to consider as Tadawul starts trading

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

1) Jabal Omar Development Co. has extended its memorandum of understanding (MoU) exploring a potential merger with Umm Al Qura Development and Construction for another six months until September 26.

2) Almarai's shareholders will vote on the board of directors' recommendation to distribute a 7.5 percent cash dividend (SAR 750 million - SAR 0.75 per share) on April 9.

3) Saudi Arabia’s Capital Market Authority (CMA) has approved Saudi Ceramic Company’s request to increase its capital by 20 percent to SAR 600 million from SAR 500 million.

4) MetLife AIG ANB Cooperative Insurance Co. announced that based on unaudited financial results of February 2018, accumulated losses have exceeded 50 percent of capital.

5) Methanol Chemicals Co. (Chemanol) has narrowed its net loss by 72.74 percent year-on-year (YoY) to SAR 27.7 million in fiscal year 2017, from SAR 101.63 million in 2016.

6) Saudi Public Transportation Co. (SAPTCO) reported a net profit of SAR 81.74 million for the fiscal year 2017, a 37.6 percent YoY decline on lower operating revenue.

7) Middle East Healthcare Co.’s (Saudi German Hospital) FY 2017 net profit fell 17 percent year-on-year (YoY) to SAR 300 million mainly due to the operation costs of newly-launched Hail hospital.

8) Zamil Industrial Investment Co.’s board of directors has recommended a 10 percent cash dividend for the second half of 2017, at SAR 1 per share, amounting to SAR 60 million.

9) L’Azurde for Jewelry Co.’s board of directors has recommended withholding cash dividend for fiscal year 2017.

10) Crude oil prices edged higher on Tuesday, with Brent crude last up 0.3 percent at $70.34/bbl while WTI crude rose 0.5 percent to $65.88/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com