10 things to watch on Tadawul today

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

1) Saudi International Petrochemical Company (Sipchem) reported a 24.2 percent slump year-on-year (YoY) in net profit after zakat and tax to SAR 114.7 million for Q1 2019.

2) Arabian Cement Co. reported a net profit of SAR 37.1 million for the first quarter of 2019, from a net loss of SAR 6.1 million during the same period last year.

3) Sahara Petrochemicals Co. reported a net profit after zakat and tax of SAR 142.7 million for the first quarter of 2019, a 1.78 percent year-on-year (YoY) rise on higher sales volumes and lower feedstock prices.

4) National Medical Care Co.’s (Care) shareholders have approved a 10 percent cash dividend for the fiscal year 2018, during the general assembly meeting held on April 23, 2019.

5) Tabuk Cement Co. reported a net profit after zakat and tax of SAR 3.63 million for the first quarter of 2019 compared with net losses of SAR 11.23 million a year earlier, on higher revenue, improved selling prices and increased investment income.

6) Al Kathiri Holding Co.’s shareholders have approved a 20 percent capital hike to SAR 45.21 million during the extraordinary general assembly meeting held on April 23, 2019.

7) Al Jouf Cement Co. has signed a non-binding memorandum of understanding with Riga Co. to convert its second production line to white cement production

8) Saudi British Bank’s shareholders are set to vote on a capital hike to SAR 20.55 million from SAR 15 million in order to complete the merger with Alawwal Bank, during the general assembly meeting that will be held on May 15, 2019.

9) Qassim Cement Co.’s board of directors has named Abdul Majeed Alhaqbani as deputy chairman, the company said in a bourse statement.

10) Brent crude on Thursday gained 9 cents to reach $74.66/bbl, while WTI crude dropped 5 cents to $65.84/bbl.