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Palestine Telecommunications approves 50% cash dividends

2014-03-27

Weekly Trading Report [23-27/03[2014

Al-Quds Index noticeably declined at the end of the week by 3.52%, to trade at its lowest level since the 21st of January 2014. This drop came amid the routine decreases in the listed companies’ shares prices due to the cash dividends distributions for the year 2013, and what followed of attempts to change investment positions for the purpose of cash dividends entitlements and maximizing the return on investment. Whereby, shares of companies that approve distributing dividends witness spontaneous drop in their prices in the days that follow the dividends entitlement day; with a percentage close to the calculated dividends yield prior to the distribution. This is explained by noting that the share’s price holding cash dividends before the general assembly meeting is not equivalent to the share’s price after the dividends entitlement. In this context, the variation scope concerning the traders’ interests is enhanced; the buyer of the stock in this drop trend – discounted by dividends value- may be motivated by the historical technical performance of the share in pre and post the dividends entitlement announcement or by the expected company’s profits growth or else by the share’s attractive market indicators related to the new recorded low price. While the seller of a stock with discounted price by the dividends value may be motivated by liquidating his holdings in order to capture another stock that holds dividends in a near period or the trader himself has just achieved a targeted total shareholder’s return (dividends and capital gain). At the end of the week, Al-Quds Index closed at the level of 558.13 points; down by7.45% than its highest closing in the year 2014, and by 4.07% than its simple average of this year, and up by 2.71% than its lowest level in the year 2014. 

In terms of cash dividends entitlements and their effects, the general assembly of Palestine Telecommunications PALTEL- the largest company by market capitalization and the most affective share in Al-Quds Index- approved in its meeting on 26/03/2014, distributing 50% cash dividends, divided into 40% cash dividends from the company’s net income and 10% exceptional cash dividends for the company’s investments during the year 2013. According to the adopted percentage, dividends yield recorded 7.94% according to the market price prior to the GA meeting. On the other hand, PALTEL’s price declined after the entitlement date by 7.46%- the highest fluctuated rate for the share during the trading session, to contribute in significant price levels anticipation in the beginning of the coming week. During the week, PALTEL closed at the level of JD5.83; down by 7.02% than its previous closing through transactions worth $3.19 million; constituting in 50% of PEX’s total trading value. On the other hand and during the GA meeting, the Chairman of the Board of directors, Sabih Al-Masri, indicated  the steady and continuous growth in the financial performance of the Paltel Group, in which is a result of the studied plans pursued by the Group"s management in its operations that were flexible in terms of dealing with the economic, political and investment changes, with a commitment to respond to the needs and aspirations of the market on one hand, and the interests of the shareholders of the company and maintaining their return on investment on the other.

Regarding this week’s trading and in terms of the leading shares, Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- came in the second place in terms of trading value; contributing around 22.3% of the PEX’s trading value. PADICO declined by 1.69%, to close at the level of $1.75 due to exit of small speculators amid variance in the investment decision basis for cash dividends entitlements during May 2014. Moreover, the share of Bank of Palestine BOP- the largest bank by market capitalization-declined by 0.93%, when closed at the level of $3.20 after transactions worth $0.74 million. Far from trading, holding the board of directors’ meetings announcements accelerated in order to approve the dividends distribution strategies for the year 2013. By the end of this week, three companies approved distributing cash dividends for the year 2013, while 15 companies approved dividends distribution with appointing the GA meetings. On the other hand, discussing the financial statements for Q1 2014 will be the main subject for the BOD meetings during the legal period of 15 days that is granted by the PEX and starts in April 2014.

 

 

 

 

 

 


 

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

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PIBC reports net income of $3.91 million at the end of 2017

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PID realizes net loss of JD0.01 million at the end of 2017

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PRICO realizes net loss of JD13.49 million at the end of 2017

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RSR reports net income of JD0.48 million at the end of 2017

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NIC posts net income of $7.70 million at the end of 2017

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NIC posts net income of $7.70 million at the end of 2017

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JCC posts net income of JD0.51 million at the end of 2017

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ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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