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Net annual profit in 2020 amounted to SAR 26.27 million
4 March 02:05 PM Bazeem profits rise 27% in 2020; plans 17.5% dividends
Riyadh – Mubasher: Baazeem Trading Company reported SAR 26.27 million in annual net profit after zakat and tax last year, recording an increase of 27.35% compared with the previous year. The growth in net profit in 2020 was driven by revenue …
Net profit reached SAR 609 million in 2020
4 March 01:57 PM Southern Province Cement posts 31.5% growth in annual profit
Riyadh – Mubasher: Southern Province Cement Company reported a 31.53% increase in net profit after zakat and tax last year, as shown by the company’s annual financial results on Wednesday. Net profit reached SAR 609 million in 2020, compared with …
The company registered SAR 90.17 million in net profit last year
4 March 01:48 PM Bawan reports 238.6% rise in 2020 profits
Riyadh – Mubasher: Bawan Company reported a 238.57% rise in its net profit in 2020, as shown by the company’s annual financial results. The firm registered SAR 90.17 million in net profit after Zakat and tax last year, compared with SAR 26.63 …
Dividends will be distributed at SAR 0.40 per share
4 March 01:40 PM ANB board recommends SAR 600m dividends
Riyadh – Mubasher: The board of Arab National Bank (ANB) has recommended the distribution of SAR 600 million in cash dividends to shareholders for the fiscal year 2020. The proposed dividends will be distributed at SAR 0.40 per share after Zakat, …
The five-year Sukuk was offered through a private placement in 2016
4 March 12:12 PM Sipchem plans early redemption of SAR 1bn Sukuk
Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) on Thursday announced the proposed early redemption of its SAR 1 billion Sukuk in full at face value. The Sukuk was offered through a private placement in 2016 for an amount …
The board of directors recommended a cash dividend at SAR 0.5 per share
4 March 11:28 AM Alandalus Property's profit sinks 78% in 2020; dividends proposed
Riyadh – Mubasher: Alandalus Property Company achieved net profit after Zakat and tax of SAR 14.34 million in 2020, sliding by 77.88% year-on-year (YoY) from SAR 64.8 million. The profit drop was mainly due to lower revenue from retail and …
Revenues declined to SAR 278.72 million last year
4 March 10:40 AM Amlak International's profit surges 41% in 2020
Riyadh – Mubasher: Amlak International for Real Estate Finance Co. logged SAR 98.9 million in net profits after Zakat and taxes in 2020, up by 41.27% year-on-year (YoY) from SAR 70 million. The profit growth was ascribed to lower financing cost …
The company’s board has proposed 25% of the share’s nominal value in H2-20 dividends.
3 March 04:30 PM Southern Province Cement proposes SAR 2.5/shr dividend for H2-20
Riyadh – Mubasher: Southern Province Cement Company is considering a cash dividend distribution of SAR 350 million to shareholders for the second half (H2) of 2020. The company’s board has proposed SAR 2.5 per share or 25% of the share’s nominal …
The step comes to support the company’s financial position.
3 March 04:12 PM Saudi Al Alamiya plans no dividends for 2020
Riyadh – Mubasher: The board of directors of Al Alamiya for Cooperative Insurance Company recommended not to distribute cash dividends for fiscal year (FY) 2020. The step comes to support the company’s financial position, according to a stock …
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3 March 03:43 PM Hyundai Heavy, Saudi Aramco cooperate on hydrogen project
Riyadh – Mubasher: Hyundai Heavy Industries Holdings (HHIH) has signed a deal with the Saudi Arabian Oil Company (Saudi Aramco) to cooperate on a hydrogen project, according to local media reports in South Korea. Under the deal, Hyundai Oilbank, …
The insurer's profits amounted to SAR 251.8 million in 2020.
3 March 10:03 AM Al-Rajhi Takaful posts 131.3% profit hike in 2020
Riyadh – Mubasher: The net profit before Zakat of Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) increased by 131.3% in 2020 to SAR 251.8 million. The growth in the insurer’s net profits was backed by an improvement in net claims …
The transaction is expected to be completed by the end of June 2021.
3 March 09:45 AM Alhokair, ACC to acquire 51% stake in UK's Vogacloset
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Co. (Alhokair) and Arabian Centres Company (ACC) will acquire a combined 51% stake in Vogacloset, a UK-based online fast fashion platform offering over 400 brands in the latest women’s, men’s and kids’ …
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3 March 09:26 AM Alinma Bank plans SAR 0.3/shr dividends for 2020
Riyadh – Mubasher: Alinma Bank’s board recommended distributing cash dividends of 3% of the share’s nominal value to shareholders for 2020. This is equivalent to SAR 596.121 million or SAR 0.30 per share, according to a stock exchange filing on …
The sale proceeds will be used in further improving the return on equity in the group.
2 March 04:47 PM Fitaihi Holding sells entire stake in Al-Jouf Agricultural for SAR 125.7m
Riyadh – Mubasher: Fitaihi Holding Group has completed, until the end of 2 March 2021, selling its total stake of 9% in the share capital of Al-Jouf Agricultural Development Company, achieving capital gains of SAR 125.7 million. The step is in …
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2 March 10:25 AM Tadawul delists Solidarity’s shares after merger with Aljazira Takaful
Riyadh – Mubasher: Shares of Solidarity Saudi Takaful Company were delisted from the Saudi Stock Exchange (Tadawul) on Monday, 1 March 2021, the Saudi bourse said in a statement on Tuesday. The step comes after Solidarity had announced the end of …
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2 March 10:05 AM Banque Saudi Fransi proposes 4% dividends for 2020
Riyadh – Mubasher: The board of Banque Saudi Fransi (BSF) recommended a cash dividend distribution of SAR 479.98 million to shareholders for 2020. The proposed amount is equivalent to SAR 0.4 per share or 4% of the share’s par value, according to …
The NCB-Samba merger will create a regional powerhouse with SAR 837 billion ($223 billion) in assets.
2 March 09:44 AM NCB, Samba shareholders approve merger agreement
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the National Commercial Bank (NCB) has approved the proposed merger of the bank and Samba Financial Group through the issuance of 0.739 new NCB shares for every share in Samba. It …
The company’s revenue reached SAR 119.25 million in Q4-20.
2 March 09:25 AM Saudi Paper swings to quarterly profits
Riyadh – Mubasher: The Saudi Paper Manufacturing Company turned profitable in the fourth quarter (Q4) of 2020, gaining SAR 6.24 million in net earnings, versus SAR 11.39 million in net losses in the same period in 2019. The turn to profits in …
The loan is secured by a promissory note of SAR 93 million in favour of Samba.
1 March 04:13 PM MEPCO extends SAR 93m loan deal with Samba
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has renewed a Sharia-compliant credit facility agreement worth SAR 93 million with Samba Financial Group to finance the company's working capital and spare parts for factory equipment and …
Tamear will become a fully-owned subsidiary of Al Akaria.
1 March 11:39 AM Al Akaria raises stake in subsidiary to 100%
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has purchased the entire stake of Kaya Homes for Construction, Contracting, Tourism, Trade and Industry, in the Saudi Real Estate Construction Company (Tamear), in which it owns a 60% …
The appointment will be effective starting as of 1 March 2021.
1 March 11:30 AM BCI names new CEO
Riyadh – Mubasher: The board of directors of Basic Chemical Industries Company (BCI) approved the appointment of Ala Abdullah Abdulkarim AlShaikh as the CEO of the company. The appointment will be effective starting as of 1 March 2021, according …
The proposed dividend amount represents 10% of the share’s nominal value.
1 March 11:25 AM Al Rajhi Bank plans 10% dividends for 2020
Riyadh – Mubasher: Al Rajhi Bank’s board of directors recommended distributing SAR 2.5 billion in cash dividends to shareholders for 2020. The proposed amount represents 10% of the share’s nominal value or SAR 1 per share, according to a stock …
The turn to profits in 2020 was helped by an increase in gross profit.
1 March 11:21 AM Al-Jouf Agricultural turns to profits in 2020
Riyadh – Mubasher: Al-Jouf Agricultural Development Company (JADCO) returned to profitability in 2020, gaining SAR 21.35 million in net profits, against net losses of SAR 20.8 million in 2019. The turn to profits in 2020 was helped by an increase …
The profit hike was driven by higher revenues and lower cost of goods sold.
1 March 11:17 AM Saudi Vitrified Clay profits grow 21.6% in 2020
Riyadh - Mubasher: Saudi Vitrified Clay Pipes Company (SVCP) reported SAR 10.7 million in net profits for 2020, an increase of 21.6% when compared to SAR 8.8 million in 2019. The profit hike was driven by higher revenues and lower cost of goods …
The company’s revenue stood at SAR 871.9 million last year.
1 March 11:14 AM Arabian Cement reports 11.4% profit drop in 2020; dividends proposed
Riyadh – Mubasher: Arabian Cement Company’s net profits for the year 2020 dropped by 11.4% to SAR 184.9 million, compared with SAR 208.7 million in 2019. The slump in the company’s annual profits is attributed to higher sales costs and marketing …