8 things you need to know on Tadawul today

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

1) Red Sea International Co. will pay SAR 0.75 per share cash dividend to its shareholders for the fiscal year 2016 on May 31.

2) Saudi United Cooperative Insurance Co.’s (Walaa) shareholders approved amending the company’s name to Walaa Cooperative Insurance Co.

3) Shareholders of Makkah Construction and Development Co. approved the board recommendation to pay SAR 2.5 per share cash dividend for the fiscal year ended January 2017. Shareholders also approved transferring SAR 100 million from statutory reserve surplus to retained earnings account.

4) Qassim Investment Holding (QACO) said it has appointed Fahd Al Barrak as acting CEO after Mohammed Al Essa submitted his resignation to the company’s board effective June 1, 2017.

5) Tabuk Cement’s board of directors on Thursday has appointed Saud Al Juhani, Public Pension Agency’s representative, as vice chairman of the board for the current three-year term started on January 26, 2017.

6) Etihad Atheeb Telecommunication Co. (Atheeb Telecom) has invited nominations from eligible shareholders to membership on its board of directors.

7) Nama Chemicals Co. has reduced its accumulated losses to SAR 52.1 million, or 22.17 percent of capital.

8) Crude oil extended gains from last week, rising ahead of the May 25 meeting between OPEC and non-OPEC producers. Brent crude was last up 0.8 percent at $54.01 /bbl while and WTI crude was up 0.9 percent at $50.8/bbl, respectively.