5 things to watch on Tadawul today

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

1) Saudi Basic Industries Corp.’s (SABIC) board of directors has recommended a 22 percent cash dividend for the second half of 2018, at SAR 2.2 per share, amounting to SAR 6.6 billion.

2) Saudi Electricity Co.’s (SEC) shareholders approved the formation of a new affiliate company to generate electricity.

3) Saudia Dairy and Foodstuff Co.’s (SADAFCO) shareholders on Dec. 18 approved the repurchase of 3.25 million shares.

4) Shares of Aldrees Petroleum and Transport Services Co. and Saudi Fisheries Co. (Alasmak) hit their highest level in 52 weeks on Wednesday, data compiled by Argaam showed.

5) Saudi Arabia’s 2019 budget has allocated SAR 33 billion for the energy, industry, mining and logistics sectors, Energy Minister Khalid Al-Falih said.

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