Bloomberg News

Takween Advanced Jumps Most in Three Weeks on Cash Dividend Plan

March 03, 2012

Takween Advanced Industries Co. (TAKWEEN) jumped the most in more than three weeks after the Saudi Arabian manufacturer of plastic products said it recommended paying a 2011 cash dividend of 1.35 riyals a share.

The stock soared as much as 10 percent, the largest intraday increase since Feb. 8, to 55 riyals at 1:50 p.m. in Riyadh before trimming gains to 54.50 riyals. Takween started trading shares on the Saudi stock exchange on Feb. 7.

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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