9 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) Al Alamiya Cooperative Insurance Co. said it won’t pay dividend for the fiscal year 2016 in order to boost the company’s solvency margin and support future activities. 

2) The board of directors of Electrical Industries Co. has recommended a 9 percent cash dividend to be paid at the rate of SAR 0.90 per share for fiscal year 2016. 

3) The Capital Market Authority (CMA) has approved Saudi Industrial Services Co.’s (SISCO) request to increase capital by 20 percent to SAR 816 million.

4) Tabuk Cement Co. said it has received a one-year export license from Saudi Arabia’s ministry of commerce and investment. 

5) The Capital Market Authority (CMA) has approved Saudi Investment Bank’s (SAIB) request to increase capital by 7.1 percent to SAR 7.5 billion by issuing one bonus share for every 14 shares held. 

6) Saudi Marketing Co.’s (Farm Superstores) extraordinary general assembly has elected board members and audit committee’s members for the upcoming three-year term starting on March 21, 2017.

7) Yanbu National Petrochemical Company (Yansab) will pay SAR 1.5 per share cash dividend for H2-2016 on March 28, 2017.

8) Middle East Paper Co.’s (Mepco) board of directors has recommended a 7.5 percent cash dividend for FY 2016 to be paid at SAR 0.75 per share.

9) Oil prices rebounded on Wednesday after industry data revealed a decline in US crude stockpiles. Brent crude was last up 1.5 percent at $51.66/bbl and WTI crude rose 1.7 percent to $48.53/bbl.