9 things to watch on Tadawul today

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

1) Saudi Telecom Co. (STC) reported a net profit after zakat and tax of SAR 10.76 billion for the fiscal year of 2019, compared to a net profit of SAR 10.78 billion a year earlier.

2) Samba Financial Group (Samba) announced its intention to offer notes under its $5 billion Euro Medium Term Note program, established on July 15, 2019.

3) Saudi Paper Manufacturing Co. (SPM) approved the chairman’s decision to revoke the contract of CEO Hassan Asiree, effective from Jan. 21, 2020.

4) Takween Advanced Industries (Takween) appointed Ali Al Jameel as its new chief executive officer, effective Feb. 2, 2020.

5) The general assembly of Etihad Atheeb Telecommunication Co. (GO) disapproved the remuneration policies of the board members, as well as board and executive management committees.

6) Saudi Real Estate Refinance Co. (SRC), fully owned by the Public Investment Fund (PIF), signed an agreement with Bank Aljazira to acquire a real estate financing portfolio worth SAR 250 million.

7) The board of directors of Al Yamamah Steel Industries Co. recommended on Jan. 22 withholding dividend for the second half of 2019.

8) Saudi Telecom Co. (STC) will distribute a 10% cash dividend to shareholders for the fourth quarter of 2019, at SAR 1 per share, amounting to SAR 2 billion.

9) Brent crude on Thursday declined 83 cents to reach $62.38 per barrel whereas WTI Crude decreased 90 cents to reach $55.84/bbl.