6 things to watch on Tadawul April 6

Here are a few things you need to know when the Saudi Stock Exchange opens for trading Thursday. 

1) Arriyadh Development Co. (ARDCO) has said it will pay an 8 percent cash dividend (SAR 0.8 per share) for the second half of 2016 on April 20.

2) Nadec’s shareholders have named Mohammed bin Abdullah Abunnayen as vice chairman of the board, the company said in a statement Thursday.

3) Saudi Public Transportation Co. (SAPTCO) said it plans to deposit the 5 percent dividend (SAR 0.5/share) for FY 2016 on Monday, April 10 through National Commercial Bank (NCB). The company on Wednesday had signed a murabaha financing agreement worth SAR 46.6 million with Saudi British Bank (SABB).

4) Alujain Corporation (Alujain) said that its 57.4 percent owned subsidiary, National Petrochemical Industrial Co. (NATPET), will shut down its Propylene & Polypropylene Complex in Yanbu Industrial City for a 25-day scheduled maintenance starting April 9.

5) Saudi United Cooperative Insurance Co. (Walaa) has been given a 20-day grace period by the Saudi Arabian Monetary Authority (SAMA) to fulfill regulatory requirements for pending vehicle claim settlements and customer complaints, the company announced on Wednesday.

6) Oil prices declined on Thursday, after a new report from the Energy Information Administration (EIA) showed an increase in US stockpiles. Brent crude was last down 0.5 percent at $54.10/bbl and WTI crude fell 0.5 percent to $50.90/bbl.