Mubasher - Abdo Ahmed: The Saudi Industrial Investment Group, "Saudi Group", witnessed a noticeable decline during today's session, Thursday, to lead the declines in the Saudi market, recording its lowest level since 2020.

The stock fell 3.03% by 11:45 Saudi time, losing 0.52 riyals from its value, falling to 16.62 riyals, which is the stock's lowest level since the session of April 21, 2020.

The volume of trading on the stock at that moment amounted to 2 million shares, valued at 34.5 million riyals, through 3,000 transactions.

The Saudi market's general index came in green, meanwhile, with a 0.11% increase, with gains of 13.23 points, rising to 11,905.55 points.

Yesterday, Wednesday, the Saudi Group announced the Board of Directors’ recommendation to reduce the capital due to its excess over need , as the capital will be reduced from 7.55 billion riyals, while the capital after the reduction will be 6.79 billion riyals, and the reduction represents 10% of the total capital.

It also announced the Board of Directors’ decision not to distribute cash dividends to shareholders for the second half of fiscal year 2024 and the first half of fiscal year 2025, to enhance the company’s financial performance during the coming period.