Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Electricity Co. (SEC) signed a memorandum of understanding (MoU) with Japan Bank for International Cooperation (JBIC) to finance its existing and future projects, and promote energy conversion.
2) Etihad Etisalat Co.’s (Mobily) board of directors recommended a 5 percent cash dividend for the fiscal year 2020, at SR0.5 ($0.61) per share, amounting to SR385 million.
3) Yamama Cement Co. made an early repayment of the loan installment amounting to SR738 million from its available cash balance.
4) Rabigh Refining and Petrochemical Co. signed an agreement with TAQAT Co. to build and operate a new high-quality petroleum coke (petcoke) plant at the company’s complex.
5) Taiba Investment Co.’s board of directors recommended a 5 percent cash dividend for the second half of 2020, at SR0.5 per share, amounting to SR80.23 million.
6) Red Sea International Co. signed a facilities management contract worth SR210 million with The Red Sea Development Company (TRSDC).
7) SEDCO Capital, the fund manager of SEDCO Capital REIT Fund, said that a preliminary ruling was delivered by Jeddah General Court to terminate the lease contract signed with Dar Al-Masarat Al-Arabia Co. Ltd. for Burj Hayat Hotel Riyadh.
8) Brent crude on Friday gained 76 cents to reach $52.26 per barrel. WTI crude also increased 74 cents to reach $49.10/bbl.
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