9 things to watch on Tadawul today

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

1) The Saudi Stock Exchange (Tadawul) approved the request of Al-Omran Industries & Trading Co. to transition its shares from the parallel market to the main market.

2) Saudi Fransi Capital will distribute cash dividend to Taleem REIT Fund unit holders for the period from April 1, 2020 to June 30, 2020, at SAR 0.16 per unit, or 1.6% initial price per unit.

3) Al Mashaar REIT Fund will pay a 1% cash dividend for the first half of 2020, at SAR 0.10 per unit, for the period from Jan.1 to June 30, 2020.

4) National Building and Marketing Co.’s board of directors recommended a 100% capital hike to SAR 120 million from SAR 60 million through issuance of one bonus share for every one share held.

5) Abdullah Saad Mohammed Abo Moati for Bookstores Co.’s board of directors recommended a 5% cash dividend for the fiscal year ended March 31, 2020, at SAR 0.50 per share, amounting to SAR 10 million.

6) Saudi Industrial Export Co. (SIECO) signed a SAR 106 million Islamic financing agreement with Alinma Bank.

7) City Cement Co. received the Capital Market Authority’s (CMA) approval to cut capital to SAR 1.4 billion from SAR 1.89 billion through reducing shares to 140 million from 189.2 million.

8) Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) relocated its headquarters in Platinum Center, Salah Ad Din Al Ayyubi road in Riyadh, effective July 19, 2020.

9) Brent crude on Thursday declined 24 cents to reach $43.55 per barrel. WTI Crude also decreased 30 cents to reach $40.90/bbl.