Saudi stocks start trading on Wednesday

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

1) Seera Group Holding announced the completion of three hotels, which are set to open in 2021.

2) Almarai Co.’s board of directors recommended a 10% cash dividend for the fiscal year 2020, at SAR 1 per share, amounting to SAR 100 million.

3) Dallah Healthcare Co.’s board of directors recommended a 5% cash dividend, at SAR 0.5 per share, for the first half of FY2020.

4) Sahara International Petrochemical Co. (Sipchem) signed a 20-year strategic partnership agreement with Linde GMBH to set up a 50:50-owned joint venture (JV) to develop industrial gas projects across the Kingdom.

5) Sipchem’s board of directors recommended a 5% cash dividend at SAR 0.50 a share, totaling SAR 366.7 million, for FY2020.

6) Saudi Arabia Fertilizers Co.’s (SAFCO) board of directors recommended a 10% cash dividend for the second half of 2020.

7) Sipchem is planning to mothball the Polybutylene Terephthalate (PBT) plant, owned by its affiliate, Sipchem Chemical Co., and Ethylene Vinyl Acetate (EVA) Film plant that is owned by affiliate firm, Saudi Specialized Products Co.

8) SAFCO temporarily halted operations at its SAFCO 4 plant due to a technical failure on Nov. 26.

9) Saudi Company for Hardware (SACO) opened a new store in Khamis Mushait City.

10) Brent crude on Wednesday declined 6 cents to reach $50.70 per barrel. WTI crude also decreased 4 cents to reach $47.58/bbl.