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) Bank Albilad will pay SAR 0.5 per share cash dividend for fiscal year 2016 on May 25. 

2) Saudi Cable Co. said it will delay publishing its audited financial statements for the first quarter of 2017 as a result of not being able to publish its financials for the fiscal year 2016.

3) Riyad REIT has extended a memorandum of understanding (MoU) until June 8 to acquire Omnia Center, a commercial building in Jeddah.

4) Malath Insurance Co. said it will deposit the proceeds from the sale of fractional shares into relative shareholder bank accounts through Saudi Investment Bank on May 18.

5) Saudi International Petrochemical Company’s (Sipchem) said that audited financial statements showed an additional decline in retained earnings of SAR 103 million in the opening balances as of Jan. 1, 2016 on implementation of International Financial Reporting Standards (IFRS).

6) Falcom Financial Services, the financial advisor and lead manager of Thob Al-Aseel Co.’s initial public offering (IPO) has set the issue price range between SAR 75 and SAR 95 per share, Alrriyadh newspaper reported on Tuesday.

7) Jarir Marketing Company reported a net profit of SAR 221.4 million for Q1 2017, a 26.5 percent year-on-year (YoY) jump, attributed to higher smartphone sales, increased sales in the wholesale segment, and lower selling and distribution expenses.

8) National Metal Manufacturing and Casting Company (Maadaniyah) reported a net profit of SAR 1.45 million for the first quarter of this year, an 88 percent year on year decline.

9) Oil prices fell Tuesday morning. Global benchmark Brent crude was last down 0.2 percent at $49.26 per barrel (bbl), while West Texas Intermediate fell 0.2 percent to $46.33/bbl.