8 things to watch on Tadawul today

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

1) Methanol Chemicals Co. (Chemanol) turned to a net profit after Zakat and tax of SAR 29.9 million for the first quarter of 2021.

2) Advanced Petrochemical Co. (Advanced) reported a net profit after Zakat and tax of SAR 171 million for Q1 2021, an increase of 64% year-on-year (YoY).

3) The Company for Cooperative Insurance’s (Tawuniya) board of directors recommended an 8% cash dividend for 2020, at SAR 0.80 per share, amounting to SAR 100 million.

4) Saudi Arabian Oil Co. (Saudi Aramco) will disclose its financial results and dividends for Q1 2021 before the start of trading on Tuesday, May 4, 2021.

5) The Saudi Stock Exchange (Tadawul) said that trading hours would remain unchanged during Ramadan.

6) Al Moammar Information Systems Co. (MIS) announced the completion of the procedures for signing the contract for the operation and maintenance of the digital infrastructure of 72 hospitals in the Eastern Province and the Northern Region.

7) Aljazira Takaful Taawuni Co.’s board of directors recommended a capital hike to SAR 550 million from SAR 470.66 million through 16.86% bonus shares.

8) Brent crude on Wednesday gained 10 cents to reach $62.84 per barrel. WTI crude also increased 7 cents to reach $59.40/bbl.