With the end of the general assembly meetings for all the public shareholding companies that are listed in Palestine stock exchange, 18 companies out of 47 listed companies announced on distributing dividends to their shareholders for the fiscal year 2011. The Chief Executive of PEX Mr. Ahmad Aweidah disclosed that the amount of distributed dividends to shareholders for the year 2011 totaled at $139,886,741, distributed between cash dividends of $118,198,606 and bonus shares amounting to $21,688,134 million. He pointed out that the rate of return on investment to the market capitalization of the companies that distributed profits during the year 2011 reached to 6.97%.
Commenting on these data, Mr Aweidah indicated that the amount of the companies’ dividends of the listed companies this year was good and came almost with the distribution levels over the recent years, stressing out that the value of these distributions is linked to the performance of the listed companies for the year 2011. Aweidah recalled the good results achieved by the listed companies in the first quarter of 2012, with achieving profits by 70% of the total companies in this quarter, adding that the value of the dividend for the financial year ended and the results of the first quarter of this year are promising good indicators of what is yet to come, especially with the anticipation for the financial results of the listed companies for the first half of this year, hoping to have results in the same level of expectations from investors and shareholders of listed companies.
In addition, from the fact of the dividends distribution of the public shareholding listed companies, Palestine telecommunications company PALTEL acquired to the highest value in terms of value distributions, where its cash dividends totaled JD 52,650,000, followed by Bank of Palestine’s distributions that totaled $ 21 million, including 9 million cash dividends and 14 million free shares. Palestine Development and investment PADICO holding ranked in third place by distributing cash dividends that amounted to $ 15 million. The remaining companies decisions varied between distribution of cash dividends or bonus shares or the both.