8 things you need to know on Tadawul today

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

1) United Electronics Company’s (eXtra) reported a net profit after zakat and tax of SAR 34 million for Q1 2019, a 57.7 percent year-on-year (YoY) increase. The company decided to pay a 12.5 percent cash dividend for the second half of FY 2018.

2) Riyad Bank will be paying an average of 11-12 percent zakat going forward, its CEO Tarek A. Al-Sadhan said.

3) Banque Saudi Fransi’s (BSF) shareholders will vote to pay a 8 percent cash dividend for the second half of 2018 at the general assembly meeting on May 1.

4) National Agriculture Marketing Co.’s (Thimar) board of directors recommended a capital increase via a rights issue at SAR 150 million.

5) Saudi Marketing Co.’s (Farm Superstores) board of directors recommended withholding dividend payment for FY18.

6) Walaa Cooperative Insurance Co.’s board of directors recommended a 20 percent capital hike to SAR 528 million from SAR 440 million through the issue bonus shares.

7) Domestic tourism in Saudi Arabia reached SAR 46.3 billion in 2018, while inbound tourism amounted to SAR 75.2 billion, totaling SAR 121.5 billion ($32 billion) for 2018, according to Tourism Information and Research Center.

8) Brent crude and WTI crude were trading flat on Wednesday morning at $70.59 and $64.09 a barrel, respectively.