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Distributed dividends to shareholders exceeded $152 million for the year 2010

2011-06-06

Amid completing the GA meetings for most of the listed companies in PEX, 22 companies out of 46 announced distributing dividends to their shareholders for the year 2010. Ahmad Aweidah the CEO of PEX reported that the value of distributions for the shareholders is $152,996,480, in which diversified between cash dividends and bonus shares which accounted respectively for $118,200,650 and $34,795,829 million.

Palestine Telecommunications PALTEL topped the listed companies in terms of dividends value which reached JD 52,650,000, while Palestine Development & Investment PADICO and Bank of Palestine BOP came second through distributing dividends of $20 million by each; where PADICO distributed cash dividends and BOP distributed bonus shares. Palestine Electric PEC followed by a cash distribution of $6 million, while the remaining companies had distributed cash and/ or bonus shares in varied rates.

In his comment, Aweidah reported that this year is the most generous in terms of profit distributions, and related to the distinguished performance of the listed companies in the year 2010, where 35 companies out of 46 listed companies achieved profits in 2010. He also indicated that 35 out of 45 disclosed companies had earned profits in the first quarter of 2011; a percentage of 78% which reflect a strong sign that the PEX is a promising stock market, attractive environment, and grows progressively through the distinguished performance of the listed companies that witness a remarkable development regarding profits growth, performance improvement and enhancing the wise governance.