10 things to watch on Tadawul today

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

1) Etihad Etisalat Co. (Mobily) said Emirates Telecommunications Group Co. (e&) seeks to increase its shareholding in Mobily to 50% plus one share, using a pre-conditional partial tender offer under the merger and acquisition regulations issued by the CMA.

2) Saudi Electricity Co. (SEC) reported an over fourfold rise in 2021 net profit to SAR 14.391 billion before deducting the payment of Mudaraba coupon in 2021.

3) ACWA Power reported a net profit after Zakat and tax of SAR 882.6 million for 2021, down 14% year-on-year (YoY).

4) Al Hassan Ghazi Ibrahim Shaker Co. reported a net profit after Zakat and tax of SAR 27.4 million for 2021, a 269% increase YoY.

5) Mouwasat Medical Services Co. posted a net profit after Zakat and tax of SAR 578 million for 2021, a rise of 9% YoY.

6) Najran Cement Co.’s board of directors recommended paying a cash dividend at 2.50% of capital, or SAR 0.25 a share, for the second half of 2021.

7) Saudi Electricity Co.’s (SEC) board of directors recommended a 7% cash dividend for 2021, at SAR 0.70 per share, amounting to SAR 2.916 billion.

8) Astra Industrial Group’s (AIG) board of directors recommended paying a cash dividend at 15% of capital, or SAR 1.5 a share for 2021. 

9) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) accumulated losses declined as of Dec. 31, 2021, from SAR 1.21 billion to SAR 701.71 million as of Sept. 30, 2021, representing 8.01% of the company’s capital of SAR 8.76 billion.

10) Brent crude rose 1.78% to reach $99.76 per barrel. WTI crude gained 1.75% to reach $96.70/bbl.