8 things to consider as Tadawul starts trading

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

1)  Saudia Dairy & Foodstuff Co. (SADAFCO) said it has acquired 76 percent stake in Poland’s Mlekoma and its subsidiaries Foodexo and Mlekoma Dairy at an enterprise value of SAR 120 million.

2) Saudi Advanced Industries Co. (SAIC) has signed a SAR 50 million Shariah-compliant credit facility agreement with Saudi Investment Bank (SAIB), the company said in a statement.

3) Dairy and juice producer Almarai has raised prices of its milk products by 5 percent to 9 percent, due to higher costs of energy, fuel, fodder and labor.

4) Samba Financial Group’s board of directors has recommended an 8 percent cash dividend for the first half of 2018, at SAR 0.80 per share, amounting to SAR 1.6 billion.

5) Derayah REIT Fund will pay a 1.81 percent cash dividend for the second quarter of 2018, at SAR 0.181 per unit, amounting to SAR 19.41 million, fund manager Derayah Capital said in a statement.

6) Taleem REIT Fund will pay a 1.6 percent cash dividend for the second quarter of 2018, at SAR 1.6 per share, amounting to SAR 4.56 million, fund manager Saudi Fransi Capital said in a statement.

7) Saudi Arabia’s economy will grow over the coming quarters, supported by fiscal stimulus and a jump in oil output, Capital Economics said in a new report.

8) Japan-based Toyo Engineering Corp said that Khafji and Hout oilfields in fields jointly operated by Saudi Arabia and Kuwait in the Neutral Zone will resume output in 2019.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com