10 things to watch on Tadawul today

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

1) Arabian Cement Co. reported a net profit after Zakat and tax of SAR 184.9 million in 2020, down 11% year-on-year (YoY).

2) Alujain Holding Corp. posted a net profit after Zakat and tax of SAR 207.3 million in 2020, an increase of 8% YoY.

3) National Metal Manufacturing and Casting Co.’s (Maadaniyah) board of directors recommended a 7.4% capital cut from SAR 281.12 million to SAR 260.31 million through writing off 2.08 million shares.

4) Alkhorayef Water & Power Technologies Co. (AWPT) started trading on the Saudi Stock Exchange (Tadawul) on March 1, 2021, with symbol 2081 under the public utilities sector.

5) Al-Jouf Agricultural Development Co. swung to net profit of SAR 21.4 million in 2020.

6) Al Rajhi Bank’s board of directors recommended a 10% cash dividend for 2020, at SAR 1.00 per share, totaling SAR 2.5 billion.

7) Saudi Vitrified Clay Pipes Co. (SVCP) reported net profit after Zakat and tax of SAR 10.7 million in 2020, up 22% YoY.

8) Saudi British Bank’s (SABB) board of directors approved to repurchase a maximum of 4 million shares and retain them as treasury shares under the Employees Long Term Incentive Program (LTIP).

9) Middle East Paper Co. (MEPCO) renewed a Shariah-compliant bank facility agreement worth SAR 93 million with Samba Financial Group.

10) Brent crude on Tuesday declined 91 cents to reach $62.78 per barrel. WTI crude also decreased 96 cents to reach $59.68/bbl.