6 things to watch on Tadawul today

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

1) National Co. for Learning and Education (NCLE) board of directors has recommended a 4 percent cash dividend for the fiscal year ended Aug. 31, 2018, at SAR 0.4 per share.

2) Middle East Specialized Cables Co. (MESC) has inked a debt-rescheduling agreement

with a consortium of banks that includes Alawwal Bank, Arab National Bank, Banque Saudi Fransi, Riyad Bank and The Saudi British Bank.

3) Alinma Bank’s board of directors has recommended a 10 percent cash dividend for the fiscal year 2018, at SAR 1 per share, amounting to SAR 1.49 billion.

4) Saudi Arabian Mining Company (Maaden) said it has commenced commercial production at its diammonium phosphate plant from Sunday.

5) Saudi Indian Cooperative Insurance Co.’s (Wafa) board of directors has decided to file for financial restructuring under chapter 4 of the new bankruptcy law to avoid liquidation and protect shareholders interest.

6) Allianz Saudi Fransi Cooperative insurance Co. (Allianz SF) said it has received the Saudi Arabian Monetary Authority’s (SAMA) no-objection letter on its proposed capital hike through a rights issue of SAR 400 million.