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Jeddah - Yasmine El Tohamy - Here are a few things you need to know as Saudi stocks start trading on Thursday.
- Saudi Arabian Mining Co. (Maaden) narrowed net loss after Zakat and tax to SR 209 million ($55.7 million) in fiscal year 2020, compared to a loss of SR 739.5 million in 2019.
- Al Rajhi Bank reported an annual net profit of SR 10.596 billion for 2020, a rise of 4 percent, compared to a net profit of SR 10.158 billion a year earlier.
- Saudi Arabian Amiantit Co. said accumulated losses dropped to SR 86.39 million, or 27 percent of capital, as on Feb. 2, 2021.
- Maaden board of directors recommended withholding cash dividends for fiscal year 2020.
- Saudi Cement Co.'s board of directors recommended the distribution of cash dividends at SR 2 per share, or 20 percent of capital, for the second half of 2020.
- Bawan Co. board, in coordination with the company’s two subsidiaries United Technology of Electric Substations and Switchgears Co. (USSG) and United Transformers Electric Co. (Utec), said the planned merger is “infeasible” after reevaluating the deal.
- Yanbu Cement Co. appointed Al Nefaie Investment Co. as financial advisor for its prospective capital cut process.
- Brent crude on Thursday gained 47 cents to reach $58.93 per barrel. WTI crude also increased 49 cents to reach $56.18/bbl.
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