10 things you need to know on Tadawul today

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

1) Abdullah A. M. Al-Khodari Sons Co.’s general assembly has elected members of the board of directors for the upcoming three years term starting on May 11, 2017.

2) Saudi Investment Bank’s general assembly approved a 7.1 percent capital hike to SAR 7.5 billion. Tadawul said the additional shares have been deposited into the investor’s portfolios and the fluctuation limits on Tuesday for the stock will be based on a share price of SAR 12.97.

3) AlBaha Investment and Development Company said that its accumulated losses reached SAR 185.37 million as of Dec. 31, 2016 representing 123.58 percent of capital.

4) Yamama Cement Co. reported a net profit of SAR 50.8 million for the first quarter of this year, a 66.2 percent slump year-on-year (YoY) due to lower sales volumes and values, along with a decline in local demand.

5) Saudi Catering Co.’s general assembly approved 65.5 percent cash dividend for FY 2016.

6) National Metal Manufacturing & Casting Co. (Maadaniyah) has signed a 99-year contract with Saudi National Automobile Manufacturing Co. (SNAM) to set up a new automobile manufacturing company.

7) Saudi Cable Co. said the board of directors has recommended a capital reduction, aimed at adjusting the company's status, after accumulated losses exceeded 50 percent of capital.

8) A fire broke out Monday morning at Middle East Paper Co.’s (MEPCO) storage yard for used paper, the company said in a statement to Tadawul. The fire was contained and did not affect production and shipping operations.

9) L’Azurde for Jewelry Company will be depositing the cash dividend for fiscal year 2016 into shareholders’ accounts on April 24 through the National Commercial Bank (NCB).

10) Brent crude price was last slightly up at $55.36/bbl while WTI crude was 0.1 percent down at $52.61/bbl.