Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Advanced Petrochemical Co.’s (Advanced) board of directors recommended a 6.5 percent cash dividend for the fourth quarter of 2020, at SR0.65 ($0.17) per share, amounting to SAR 140.7 million.
2) Al Yamamah Steel Industries Co. posted a net profit after Zakat and tax of SR50.7 million for the fiscal year ending on Sept. 30, 2020.
3) Samba Financial Group’s board of directors approved the resignation of Rania Mahmoud Nashar from the position of Group CEO, effective Jan. 31, 2021.
4) Saudi Industrial Investment Group’s (SIIG) board of directors recommended a 5 percent cash dividend for the second half of 2020, at SR0.5 per share.
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DUBAI: The Public Investment Fund (PIF) has bolstered its top executive team with a string of appointments of Saudi investment specialists to key positions in the Kingdom’s $360 billion sovereign wealth fund.
Six key jobs were filled, with two newcomers to the PIF setup. Rania Nashar, one of the leading female financiers in Saudi Arabia, has been made special adviser to PIF Gov. Yasir Al-Rumayyan.
Fahad Al-Saif has moved from his role as head of the National Debt Management Center and adviser to the Ministry of Finance to become PIF head of corporate finance.
Financial experts said that the new team would likely focus on PIF’s mission to stimulate investment inside the Kingdom as a key part of its remit to enhance economic diversification under the Vision 2030 strategy.