9 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) Herfy Food Services Company will pay SAR 1.5 per share cash dividend for H2-2016 on June 5, 2017. The company’s shareholders also approved a 40 percent capital hike to SAR 646.8 million through bonus shares. Tadawul said the fluctuation limits on Tuesday for Herfy will be based on a share price of SAR 57.28

2)  Herfy Food Services Company has appointed Abdulaziz Al Ghufaili as vice chairman of the board of directors for the current three-year term started on May 1, 2017.

3) The Securities Depository Center (Edaa) said that Gulf Union Cooperative Insurance Co. shares reduction has been added to investors’ portfolios on Tuesday May 23, 2017.

4) Baazeem Trading Co. will pay SAR 1.7 per share cash dividend for the fiscal year 2016 on June 4, 2017.

5) Dur Hospitality has seven projects worth SAR 1.2 billion in the pipeline, to be undertaken over the next 18-24 months, chief executive officer Badr Al Badr told Argaam.

6) The Saudi Stock Exchange (Tadawul) on Tuesday approved amending the securities tick sizes (price change units).The new tick size scale will come into effect staring from Sunday, June 4.

7) Saudi Industrial Exports Co. (SIECO) on Sunday inked a memorandum of understanding (MoU) with Engaz Al Ittihad Mining Company to invest in operating a silica mine in Tayma, northwestern Saudi Arabia.

8) Riyad REIT’s board of directors approved on Sunday proceeding with the previously announced acquisition of assets worth SAR 1.05 billion, the real estate investment fund said.

9) Brent crude declined on Tuesday, with the benchmark grade last trading down 0.5 percent at $50.86/bbl. WTI crude, rose 0.8 percent to $50.73/bbl. US President Donald Trump has proposed selling a part of the country's strategic oil reserves in his budget plan, Reuters reported.