8 things to watch on Tadawul today

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

1) National Agricultural Development Co.’s (NADEC) board of directors recommended conducting comprehensive studies to assess expansion into several food activities that will help in supporting and strengthening supply chains across Saudi Arabia.

2) Almarai Co.’s board of directors approved an investment of SAR 275 million to expand the existing processing facilities in the poultry segment, in line with the company’s strategic expansion plan.

3) Saudi Chemical Holding Co.’s board of directors recommended withholding cash dividend for the fiscal year 2019.

4) Savola Group’s shareholders are set to vote, on April 29, on the board’s recommendation to distribute a 3% cash dividend, or SAR 0.30 per share, for FY2019.

5) Umm Al-Qura Cement Co.’s shareholders approved, on April 6, the board’s recommendation to distribute a 2.5% cash dividend, at SAR 0.25 per share, for the second half of 2019.

6) SEDCO Capital REIT Fund will distribute 1.52% cash dividend to unit holders for the period starting Jan. 1, 2020, to March 31, 2020, at SAR 0.152 per unit.

7) Muscat Capital extended the agreement to acquire warehouses in Riyadh for Al Mashaar REIT, for 3 months, effective March 30.

8) Brent crude on Wednesday gained 81 cents to reach $32.68 per barrel. WTI Crude also increased $1.33 to reach $24.96/bbl.