10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Rabigh Refining and Petrochemical Co. (Petro Rabigh) swung to a net profit after Zakat and tax of SAR 649 million for the first quarter of 2021.

2) Hail Cement Co. reported a net profit after Zakat and tax of SAR 25.9 million, a drop of 36% year-on-year (YoY).

3) Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 31 million in the first quarter of 2021, down 19% YoY.

4) Development Works Food Co. swung to a net loss after Zakat and tax of SAR 2.9 million in 2020.

5) Electrical Industries Co.’s shareholders approved the distribution of cash dividend at SAR 0.5 per share, or 5% of capital, totaling SAR 22.5 million for 2020.

6) Zahrat Al Waha for Trading Co.’s shareholders approved the board of directors' recommendation on paying cash dividend at 10% of capital, or SAR 1 per share, for 2020.

7) stc shareholders approved a 10% cash dividend for 2020, at SAR 1 per share, amounting to SAR 2 billion.

8) National Shipping Company of Saudi Arabia’s (Bahri) shareholders approved the board recommendation to distribute 10% cash dividend, or SAR 1 per share, for the second half of 2020.

9) Saudi Public Transport Co.’s (SAPTCO) shareholders approved utilizing SAR 22.06 million in statutory reserve, amounting to SAR 42.73 million, to offset accumulated losses equivalent to 1.76% of the capital.

10) Brent crude on Wednesday declined 1 cent to reach $66.41 per barrel. WTI crude also decreased 2 cents to reach $62.92/bbl.