Market Movements Now | Entaj (2287) Skyrockets 30% in Just 10 Minutes; Saudi Aramco (2222)’s $21.36 Billion Dividend: Eligibility Ending Today; Saudi Re (8200) reports 282% profit surge; announces 46.6% capital increase
SAUDI RE 8200.SA | 25.64 | +0.16% |
AWPT 2081.SA | 125.90 | +0.40% |
ENTAJ 2287.SA | 25.30 | -0.16% |
SAUDI ARAMCO 2222.SA | 27.26 | +0.52% |
NAHDI 4164.SA | 105.50 | +1.54% |
As of today, the Tadawul All Shares Index(TASI.SA) has continued its upward momentum following its rebound from last week's low of 11,500 on Tuesday. Yesterday, Sunday, the index rose by more than 1%, mirroring the patterns observed in August and December of the previous year, where sharp declines to similar levels were followed by consecutive rebounds.
Currently, the index is trading within the significant range of 11,900 to 12,000. It is noteworthy that at the upper end of this range, around 12,000, there is a convergence of the 20-day Exponential Moving Average (EMA) and the 200-day Simple Moving Average (SMA).
Notable News
Saudi Reinsurance reports 282% profit surge; announces 46.6% capital increase
Saudi Reinsurance Co.(8200.SA) reported a 282% increase in net profit to SAR 474.8 million, driven by a 629% surge in investment results following the sale of its Probitas Holding stake. Insurance revenues grew 80% while gross written premiums increased 48% to SAR 2.36 billion. The company announced plans to increase capital by 46.6% through bonus shares and employee incentive program.
| Element List | Current Year | Previous Year | %Change |
|---|---|---|---|
| Insurance Revenues | 1,129,966,260 | 627,187,025 | 80.16 |
| Result of Insurance Services | 142,143,837 | 117,412,746 | 21.06 |
| Net Profit (Loss) of The Insurance Results | 142,532,400 | 119,762,246 | 19.01 |
| Net Profit (Loss) of The Investment Results | 440,181,424 | 60,387,647 | 628.93 |
| Net Insurance Financing Expenses | -37,428,897 | -34,625,646 | 8.1 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 474,811,642 | 124,429,494 | 281.59 |
| Total Comprehensive Income | 465,093,287 | 126,444,998 | 267.82 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,611,915,326 | 1,146,822,039 | 40.55 |
| Profit (Loss) per Share | 5.33 | 1.4 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
FY2024 million SAR | Q3 Earnings | Q4-Market Expectation | Q4 Earnings |
| Sales/Revenue | 341.46 | 414.00 | 305.81 |
| Net Profit (Loss) | 399.67 | 50.00 | -0.14 |
AWPT Declares 1.5 SAR Dividend, Secures 58.8M Water Treatment Contract
Alkhorayef Water and Power Technologies Co(2081.SA) reported a 64.3% surge in 2024 net profit to SAR 230 million, driven by 16.2% revenue growth to SAR 1.95 billion, particularly from a 170.9% increase in wastewater sector projects. The company recommended a 1.5 SAR per share dividend (15% of par value) and signed a SAR 58.8 million, 24-month contract with Saudi Water Authority for water treatment plant operations in multiple regions.
| Element List | Current Year | Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,952,145 | 1,679,811 | 16.21 |
| Gross Profit (Loss) | 384,324 | 264,085 | 45.53 |
| Operational Profit (Loss) | 298,374 | 201,515 | 48.06 |
| Net profit (Loss) | 230,002 | 140,022 | 64.26 |
| Total Comprehensive Income | 238,652 | 140,009 | 70.45 |
| Total Shareholders Equity (after Deducting Minority Equity) | 776,243 | 537,591 | 44.39 |
| Profit (Loss) per Share | 6.57 | 4 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
FY2024 million SAR | Q3 Earnings | Q4-Market Expectation | Q4 Earnings |
| Sales/Revenue | 450.78 | 615.00 | 609.68 |
| Net Profit (Loss) | 40.19 | 77.80 | 69.87 |
| EPS (Riyal) | 1.15 | 2.22 | 2.00 |
Entaj Skyrockets 30% in Just 10 Minutes
Arabian Company for Agricultural and Industrial Investment(2287.SA) (Entaj) is listed on the Saudi Exchange's Main Market on March 17, 2025, today, under symbol 2287. Entaj's stock surged to the daily limit of 30% within just 10 minutes after the market opened today. The IPO priced at SAR 50 per share was massively oversubscribed, with institutional demand at 208.4x and individual investor coverage at 30.2x. Initial trading will have expanded ±30% daily price limits for three days before reverting to standard ±10% limits.
Saudi Aramco’s $21.36 Billion Dividend: Eligibility Ending Today
Saudi Arabian Oil Co.(2222.SA) has previously announced its Q4 2024 base dividend distribution along with its first performance-linked dividend based on 2024 full-year results. With the eligibility date of March 17, 2025, which is today.
The total dividend amounts to SAR 0.3312 per share (SAR 0.3278 base dividend plus SAR 0.0034 performance-linked dividend), with a total distribution of SAR 80.10 billion ($21.36 billion). The distribution date is set for March 26, 2025.
Important notice: To qualify for this dividend, you must own Saudi Aramco shares by the eligibility date (March 17) and be registered in the company’s share registry at the Securities Depository Center Company (Edaa) by the end of the second trading day following this date.
Nahdi Medical Dividend Alert
Nahdi Medical Co.(4164.SA) has previously announced a cash dividend for the second half of 2024. With the eligibility date of March 17, 2025.
The dividend amounts to SAR 3.00 per share, representing 30% of the share par value, with a total distribution of SAR 390 million. The distribution date is set for March 25, 2025.
Sector Performance as of 11:55 am
- Transportation: +1.17%
- Materials: +1.07%
- Consumer Discretionary Distribution & Retail: +0.91%
Gainers as of 11:55 am
| Company | Price | Change |
|---|---|---|
| Arabian Company for Agricultural and Industrial Investment(2287.SA) | 65.00 | +30.00% |
| Retal Urban Development co.(4322.SA) | 15.94 | +7.99% |
| Alkhorayef Water and Power Technologies Co(2081.SA) | 168.20 | +5.26% |
| National Industrialization Co.(2060.SA) | 9.64 | +4.10% |
| Astra Industrial Group(1212.SA) | 168.20 | +3.96% |
Top Losers as of 11:55 am
| Company | Price | Change |
|---|---|---|
| Arabian Shield Cooperative Insurance Co.(8070.SA) | 17.92 | -1.97% |
| Arriyadh Development Co.(4150.SA) | 35.35 | -1.94% |
| Saudi Chemical Co.(2230.SA) | 8.79 | -1.79% |
| Aldrees Petroleum and Transport Services Co.(4200.SA) | 140.60 | -1.68% |
| Almoosa Health Co.(4018.SA) | 161.40 | -1.59% |
- Reporting by Zaid, Sahm News team