Saudi Arabian Equity Movers: Kingdom Holding, Alsorayai Group

The Tadawul All Share Index (SASEIDX) gained 0.6 percent to 7,075.86 at the 3:30 p.m. close in Riyadh, its highest level since Sept. 28, 2008.

The following stocks were active in Saudi Arabia’s market.

Alsorayai Group (ALSORAYA) dropped 1.1 percent to 27.10 riyals, the lowest closing price since Feb. 15, after the board of the Saudi manufacturer of carpets and rugs recommended no dividend for 2011.

Kingdom Holding Co. (KINGDOM AB) gained 1.4 percent, the biggest increase since Feb. 13, to 11.10 riyals. The board of the investment company controlled by Saudi billionaire Prince Alwaleed bin Talal recommended distributing 0.125 riyal a share in quarterly dividends from retained profit this year.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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