Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) The Saudi Stock Exchange (Tadawul) will be closed for 9 days for Eid Al-Fitr holiday, starting end of trading on May 21, 2020.
2) Saudi Arabia's Ministry of Energy directed Saudi Aramco to reduce its crude production for June by extra voluntary amount of 1 million barrels per day (bpd).
3) Yanbu National Petrochemical Co.’s (Yansab) board of directors recommended a 12.5% cash dividend for the first half of 2020, at SAR 1.25 per share, amounting to SAR 703.13 million.
4) Aldrees Petroleum and Transport Services Co. (Aldrees) will pay cash dividend for the fiscal year 2019 on May 12, 2020 at the rate of SAR 1.5 per share.
5) Saudi Re for Cooperative Reinsurance Co.’s (Saudi Re) shareholders approved, on May 10, electing a new board of directors for the upcoming 3-year term.
6) Tabuk Agricultural Development Co. (TADCO) received the decision from the Ministry of Environment, Water and Agriculture regarding the ownership of agriculture land in Plot 1 and Plot 2.
7) Fitaihi Holding Group’s board of directors approved the resignation of the CEO of Fitaihi Retail Co., Dr. Mohammed Ahmed Hassan Fitaihi.
8) Al Ahsa Development Co. announced the intention of its board of directors to change the company’s name as well as move headquarters.
9) Brent crude on Monday fell 30 cents to reach $30.67 per barrel. WTI Crude also decreased 20 cents to reach $24.54/bbl.
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