7 things to watch on Tadawul today

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

1) Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported net profit after Zakat and tax of SAR 21.2 million, surging 45% year-on-year (YoY) for Q1 2020.

2) Saudi Electricity Co.’s (SEC) shareholders approved, on June 2, the board’s recommendation to distribute a 7% cash dividend, at SAR 0.70 per share, for the fiscal year 2019.

3) Dar Al-Arkan Real Estate Development Co.’s shareholders approved, on June2, delegating the board of directors to distribute dividend for FY2020 on a semi-annual or quarterly basis.

4) Saudi Indian Company for Cooperative Insurance's (Wafa Insurance) shareholders approved the formation of an audit committee for the three-year term started June 2, 2020.

5) Aljazira Capital Co., fund manager of Aljazira Mawten REIT, changed the fund’s name and replaced operations manager, effective July 2, 2020.

6) Al-Samaani Factory For Metal Industries Co.’s (Al-Samaani) shareholders will vote, on June 25, on the board’s recommendation to increase capital by 66.67% from SAR 15 million to SAR 25 million.

7) Brent crude on Thursday declined 57 cents to reach $39.22 per barrel. WTI Crude also decreased 75 cents to reach $36.54/bbl.