RIYADH: In the previous trading session, Saudi bourse’s main stock index TASI retreated 0.5 percent to 11,204 points and the parallel market Nomu lost 2.75 percent to close at 26,409 points, despite five consecutive days of gains.
That said, it is noteworthy that many stocks saw gains following their year-end dividend distribution announcements, with the Saudi Investment Bank, or SAIB, topping that list, up 9.11 percent to its highest closing value in over two years, SR19.16 ($5.1), on higher dividends.
Not only Saudi, but most major GCC stock exchanges edged down as coronavirus-induced uncertainty lingered.
The UAE’s DFMGI saw the biggest decline among Gulf bourses, down 0.8 percent, followed by Abu Dhabi’s index ADI which dropped 0.8 percent.
Stock indices of Qatar, Bahrain, Oman, and Kuwait secured gains in the range of 0.3 percent to 0.9 percent.
Apart from the GCC, the Egyptian index EGX30 continued the upward trend, up 0.9 percent.
As of early morning today, Brent crude oil was up $0.25, or 0.33 percent, to $75.54 per barrel, while US WTI crude was up 0.32 percent to $72.99 per barrel.
Stock news:
- ACWA power has announced the financial closure of an $800 million refinancing facility for Rabigh Arabian Water and Electricity Co.
- The Saudi British Bank is to sell its ownership stake in Wataniya Insurance Co., representing 20 percent of capital, at a value of SR80 million to the Private Wealth Investment Holding Co.
- Banque Saudi Fransi’s board announced the recommendation to distribute SR0.85 per share for the second half of 2021, bringing the annual distributed dividend per share to SR1.5. The distribution date is yet to be disclosed
- Saudi Chemical Co.’s board recommended cash dividends at SR0.5 per share for first nine months of the current year. The amount is to be distributed on Feb. 3, 2022, according to a filing.
- Al Hassan Ghazi Ibrahim Shaker Co. has submitted an application to the capital market authority for capital reduction by SR147 million, then increasing capital via a rights issue worth SR249 million
- National Building and Marketing Co. has announced the completion of a SR0.1 million company establishment under the name of Yuzmash Industry Co. with limited liability
Calendar:
Dec. 23, 2021:
Last day to subscribe to Batic Investment and Logistics Co.’s new shares
Individual subscription to Jahez Marketing Co.’s initial public offering starts, with as many as 272,786 shares up for subscription
Hail Cement Co. will start dividend distribution at 5 percent of the company’s capital for the first nine months of 2021
Dec. 26, 2021:
Last day for individual subscription to Jahez Marketing Co.’s initial public offering
Al Hammadi Co. for Development and Investment will start paying out dividends amounting to SR72 million for 2021
