What you need to know when Tadawul opens today

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

1) The Saudi government approved to partially cut the 2020 budget expenditure by nearly SAR 50 billion, or less than 5% in areas that have the least social and economic impact.

2) Lazurde Company for Jewelry (L'azurde) reported a net loss after Zakat and tax of SAR 17.5 million for fiscal year 2019, from a net profit of SAR 17.7 million a year earlier.

3) Saudi Paper Manufacturing Co. (SPM) appointed Fahad bin Mohamed Al Dawood as Chairman and Suleiman bin Abdulaziz Al-Zabin as Vice Chairman of the board of directors.

4) Eastern Province Cement Co. reported a net profit after Zakat and tax of SAR 181 million for FY2019, an increase of 158.6% year-on-year (YoY).

5) Middle East Paper Co.’s (MEPCO) board of directors recommended withholding cash dividend for FY2019.

6) Eastern Province Cement Co. recommended a 15% cash dividend for FY2019, at SAR 1.50 per share, amounting to SAR 129 million.

7) Maharah Human Resources Co. recommended a 32% cash dividend for the third and fourth quarters of 2019, at SAR 3.2 per share, amounting to SAR 120 million.

8) Abdullah Al Othaim Markets Company will distribute a 15% interim cash dividend to shareholders for the fourth quarter of 2019, at SAR 1.5 per share, amounting to SAR 135 million.

9) Najran Cement Co. will vote on the board of director’s recommendations to distribute interim dividend on a semi-annual and quarterly basis for FY2020, through a teleconference meeting of the extraordinary general assembly on April 8.

10) Brent crude on Thursday gained 30 cents to reach $25.18 per barrel. WTI Crude also increased $1.41 to reach $21.78/bbl.