Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Saudi Basic Industries Corp.’s (SABIC) board of directors recommended a 15 percent cash dividend (SR1.5 per share) for the second half of 2020, amounting to SR4.5 billion ($1.2 billion).
2) Saudi Indian Company for Cooperative Insurance (Wafa Insurance) received, on Nov. 9, the document of final judgement on financial restructuring from Riyadh Commercial Court.
3) National Building & Marketing Co. canceled the memorandum of understanding (MoU) it signed with Etihad Al Kharj Metal Casting Co. as the two parties failed to implement the acquisition terms.
4) Arab National Bank (ANB) signed a bancassurance distribution agreement with Walaa Cooperative Insurance Co., a related party.
5) Al Mashaar REIT received a notification from Eskan Development & Investment Co. (Amnest Group), tenant of Eskan Tower 5, requesting the termination of the rent contract on Dec. 27, 2021.
6) Hail Cement Co.’s board of directors decided to pay early and in full the balance amount of the loan from the Saudi Industrial Development Fund (SIDF).
7) Seera Group Holding’s shareholders will vote, on Jan.7, 2021, on electing a new board of directors for the next three-year term, starting March 29, 2021.
8) Wafrah for Industry & Development Co.’s shareholders will vote, on Jan. 14, 2021, on the dismissal of the board of directors and audit committee members.
9) Brent crude on Thursday gained 50 cents to reach $51.58 per barrel. WTI crude also increased 47 cents to reach $48.29/bbl.
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