11 things you need to know on Tadawul today

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

1) Savola Group reported a net profit of SAR 4.8 million for the three months ended March 31, 2017, a 96 percent year on year decline on lower sales and profit margins.

2) AlBaha Investment Co. said it has completed the acquisition of Al Marakez Al Raqia Ltd. on Wednesday in return for issuing 14.5 million new shares to Al Marakez’s shareholders.

3) Alinma Tokio Marine Company’s shareholders approved on Wednesday a 33.3 percent capital cut to SAR 300 million via the cancellation of 15 million shares (one share for every three shares). The fluctuation limits on Thursday for the insurer will be based on a share price of SAR 26.24.

4) Yanbu National Petrochemical Co. on Wednesday completed the maintenance at its olefins plant while maintenance is still ongoing at its ethylene glycol plant.

5) Bupa Arabia for Cooperative Insurance Co. said it will pay a 15 percent cash dividend to at SAR 1.5 per share for the fiscal year 2016 on May 21.

6) Basic Chemical Industries’ Shareholders approved 10 percent cash dividend to be paid at SAR 1 per share for fiscal year 2016.

7) Hail Cement Co.’s shareholders approved 4 percent cash dividend to be paid at SAR 0.4 per share for H2-2016.

8) Abdullah A. M. Al-Khodari Sons Company received a letter from Abdullah A. M. Al-Khodari sons Holding Co. informing the company of its intention to restructure its ownership shares in the future through sale and transfer of some stocks.

9) Saudi Company for Hardware (SACO) has opened a new SACO World branch in Riyadh bringing the total number of branches to four.

10) The National Petrochemicals Co. (Petrochem) announced an unplanned shutdown in its affiliate, Saudi Polymers Co., due to a sudden interruption to nitrogen supply from outside the company early this week.

11) Brent crude climbed above $50-mark on Thursday, after Energy Information Administration (EIA) weekly data revealed a decline in US inventories. The benchmark grade was last trading up 0.5 percent at $50.47/bbl and WTI crude rose 0.6 percent to $47.59/bbl.