9 things you need to know on Tadawul today

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

1) Saudi Pharmaceutical Industries and Medical Appliances Corp.’s (SPIMACO) board of directors recommended 10 percent cash dividend to be paid at SAR 1 per share for the fiscal year 2016.

2) Riyad REIT has signed three conditional agreements to acquire properties worth SAR 1.1 billion in Riyadh and Jeddah, the real estate investment fund said in a statement to Tadawul on Thursday.

3) Saudi Fisheries Co. reported a net loss of SAR 3.02 million for the month of February 2017, bringing its accumulated losses to SAR 379.4 million, representing 70.87 percent of capital.

4) Arabian Shield Cooperative Insurance Co. said it received on Thursday a letter from the Saudi Arabian Monetary Authority (SAMA) allowing the insurer to accept new subscribers to auto insurance policies starting March 12, 2017.

5) Bank Aljazira’s board of directors recommended on Thursday a 30 percent capital increase to SAR 5.2 billion from SAR 4 billion, through the issue of three bonus share for every ten shares held.

6) Al Ahlia for Cooperative Insurance Co.’s accumulated losses have dropped below 50 percent to SAR 59.9 million, or 35.56 percent, mainly due to its capital cut last month, the company said in a statement to Tadawul Thursday.

7) Saudi Arabia’s General Authority of Zakat and Tax (GAZT) has appointed US-based consulting firm Oliver Wyman to advise it with the planned value-added tax (VAT) program, Al-Eqtisadiah newspaper reported Saturday, citing unnamed sources with knowledge of the matter.

8) State-owned Saudi Aramco has roped in New York-based investment bank Evercore Partners Inc. to advice on its upcoming initial public offering (IPO), Bloomberg reported, citing unnamed sources familiar with the matter.

9) Oil fell to a three-month low last week on concerns that supply glut could persist despite OPEC-led output cuts. Both Brent crude and WTI crude closed lower by 1.6 percent at $51.37/bbl and $48.49/bbl, respectively.