9 things to watch on Tadawul today

Tadawul trading screen

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

1) Almarai Co.’s board of directors approved a SAR 153 million investment to secure the supply of poultry parent birds. The board also approved an investment plan to enter the seafood market.

2) Middle East Paper Co. (MEPCO) shareholders approved the board’s recommendation for the payout of a 10% cash dividend, or SAR 1 per share, for 2021.

3) Al Abdullatif Industrial Investment Co.’s shareholders authorized the board to pay interim dividends on a quarterly or semi-annual basis for 2022.

4) Shareholders of Batic Investments and Logistics Co. ratified the business transactions concluded with Smart Solutions Co. Ltd. 

5) Saudi Paper Manufacturing Co.’s (SPM) subsidiary, Saudi Investment Recycling Co. (SIRC), sold a land plot in Riyadh to Aldrees Petroleum and Transport Services Co. for SAR 24.76 million, excluding real estate transaction tax.

6) Almunajem Foods Co. signed a SAR 200 million Shariah-compliant financing agreement with Al Rajhi Bank. 

7) Al Moammar Information Systems Co. (MIS) signed a final agreement with Al Rajhi Capital to launch a special Shariah-compliant investment fund worth SAR 1 billion.

8) AXA Cooperative Insurance Co.’s shareholders approved rebranding to Gulf Insurance Group (GIG).

9) Brent crude rose 0.13% to reach $121.33 per barrel. WTI crude gained 0.11% to reach $119.06/bbl.