10 things to consider as Tadawul starts trading

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

1) Saudi Arabia’s stock market (Tadawul) was included in the FTSE Russell emerging market index on Wednesday, a move that is set to attract billions of dollars.

2) Saudi Arabia's Public Investment Fund (PIF) and Japan's SoftBank have announced plans to build the world’s biggest solar power generation project in the Kingdom.

3) Alawwal Bank’s shareholders have approved the board of directors’ recommendation to distribute a 2.5 percent cash dividend (SAR 0.25 per share).

4) Saudi Airlines Catering Co.’s board has recommended a 13 percent cash dividend to be issued at the rate of SAR 1.3 per share for the fourth quarter of 2017.

Separately, the firm reported a net profit of SAR 481.7 million for 2017, down 7.2 percent year-on-year (YoY) due to lower sales, higher zakat and income tax, and losses from associates.

5) Saudi Marketing Co.’s (Farm Superstores) board has recommended a 7.5 percent cash dividend to be issued at the rate of SAR 0.75 per share for the fiscal year 2017.

6) Saudi Industrial Services Co.’s (SISCO) board has recommended a 3 percent cash dividend to be issued at the rate of SAR 0.30 per share for 2017.

7) Emaar The Economic City (Emaar EC) reported a 68.9 percent YoY plunge in net profit to SAR 223 million for 2017, due to an increase in depreciation costs on capitalization of infrastructure assets, higher interest rates and loans.

8) Alandaus Property Co. reported a net profit of SAR 118.4 million for 2017, a 28.9 percent YoY increase, attributable to higher rental income and improved income from affiliates.

9) City Cement Co. has received a cement export license, valid for one year, from Saudi Arabia’s Ministry of Commerce and Investment.

10) Crude oil prices edged up on Thursday, with Brent crude last up 0.4 percent at $69.81/bbl while WTI crude rose 0.4 percent to $64.64/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com