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)  Arabian Aramco Total Services Co. said that partners in its parent company, Saudi Aramco Total Refining and Petrochemical Co. (SATORP), have approved the cash dividend for fiscal year 2016.

2)  National Industrialization Co.’s (Tasnee) board has appointed Talal Al Shair as vice chairman for the board of directors effective May 30, 2017.

3) Abdullah A. M. Al-Khodari Sons Co.’s shareholders have approved freezing dividend for fiscal year 2016.

4) Saudi International Petrochemical Company (Sipchem) started on Tuesday scheduled periodic maintenance at its vinyl acetate monomer plant, which is owned by its subsidiary, the International Vinyl Acetate Co. (IVC). The turnaround maintenance process will be completed within three weeks.
 

5) Sahara Petrochemicals Co. is studying an earlier plan for a potential merger with Saudi International Petrochemical Co. (Sipchem), chief executive Saleh Bahamdan told Argaam.

6) Bupa Arabia for Cooperative Insurance (Bupa Arabia) on May 29 purchased 96,491 of its own shares for the employees’ incentives program at an average price of SAR 114.61 per share for the total of around SAR 11 million, the insurer said in a statement to Tadawul on Tuesday.

7) Net liquid assets of banks in Saudi Arabia rose by 90 percent to SAR 109.1 billion in Q1 2017, compared to the same period last year, data compiled by Argaam showed.

8) Oil prices declined further on Wednesday amid reports of higher supply from Libya and the US. Brent crude was last trading down 0.5 percent at $51.59/bbl and WTI crude fell 0.6 percent to $49.36/bbl.