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A drop of 7% in PALTEL’s profits and the company recommends 45% cash dividends

2015-02-12

Sahem Weekly Trading Report (8-12)/02/2015

Within transactions that were increased by institutional deals, activation in the price movements of Al-Quds appeared due to the leading companies’ stocks’ momentum, to stabilize above the 500-points level at the end of the week. On the other hand, the stock of Palestine Telecommunications PALTEL constitute an essential leverage for the Index’s gains after proposing distributing 45% cash dividends for the year 2014 to the general assembly.  According to the proposal, PALTEL record dividends yield of 7.58%, based on the current market price. It is worth mentioning that the company approved distributing 50% cash dividends for the year 2013; 40% cash dividends for the year 2013 and 10% exceptional cash dividends for the company’s investments in 2013.  This proposal that came prior to disclosing the financial data FY2014, was reflected in the stock’s performance, whereby, the purchasing orders accumulated around the previous week’s levels, leading the stock to gradually increase, touching levels that had abandoned since March 2014 due to the price depths. In total, PALTEL’s stock closed at the level of JD5.94; up by 2.41% through active transactions that constituted 57.59% of Palestine Stock Exchange PEX’s trading value; supported by executing an institutional transaction in the last session of the week.  On the other hand, the week ended with PALTEL’s disclosure of posting net income of JD85.07 million at the end of 2014, compared to JD91.83 million at the end of 2013; down by 7.36%. This decrease came due to a decline in the operating income by 14.84%. However, PALTEL recorded investment income of JD3.03 million, to record payout ratio of 69.66% based on the EPS of 2014.

On the other hand, the listed companies’ announcements about their FY2014 financial data disclosures accelerated; to create a momentum in this week. However, the legal period granted for these disclosure ends on Sunday 15/02/2015.  Coinciding with the disclosures, some companies proposed dividends distributions.  In this context, the board of directors BOD of Birzeit Pharmaceuticals Company BPC proposed to the general assembly GA, distributing 17% cash dividends, to record payout ratio of 68.27% based on the EPS of 2014. Whereby, BPC announced reporting net income attributable to the shareholders of the parent company of $4.54 million; down by 16.43% than what was reported in the year 2013. This came as a result of an increase in the finance costs that dominated the increase in the operating income. Moreover, the BOD of the Arab Company for Paints Products APC proposed distributing 35% cash dividends to the GA that will be holding a meeting on 15/02/2015, to record payout ratio of 90% based on the EPS of 2014.

Regarding the annual financial data disclosures, the Vegetables Oil Industries Company VOIC announced recording net income of JD4.95 million at the end of 2014, compared to net income of JD4.83 million at the end of 2013. This increase came due to the relative stability in the gross income, in addition to an increase in the selling and distribution expenses versus a soar in the company’s stake from associates’ profits, to record EPS of JD1.24. In the same context, Palestine Securities Exchange Company PSE- the operator of the PEX- announced posting net income of $0.24 million at the end of 2014 compared to net loss in the corresponding period. These profits came due to an increase in the operating revenues, interest revenues and leasing revenues versus shrinking the general and administrative expenses. According to the disclosed data, the book value BV of the company reaches $1.04 as for 31/12/2014.

 


 

2018-02-22
The PEX records average PE of 13.8x and average P/BV of 1.23x

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

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UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

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

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
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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