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Growing recommendations for companies’ dividends distribution

2015-03-05

Sahem Weekly Trading Report [01-05/03/[2015

Despite its slight decline below the 500-points level at the end of the last week, Al-Quds Index didn’t drop below its previous week closing that was taken as a base, to trade above this physiological level within coherent price movements, in spite of the continuous lack of liquidity. Both stocks of Palestine Telecommunications PALTEL and Palestine Development and Investment Company PADICO constituted the leverage for the gains recorded by Al Quds Index this week and staying in the green zone due to their positive price movements. In terms of liquidity, the National Bank TNB topped Palestine Stock Exchange PEX in terms of trading value; constituting 56.63% of the total trading value. This followed completing the transactions of selling a part of the major shareholders’ stakes in TNB to the Jordanian Bank Al-Etihad, based on the agreement of acquiring the portfolio of the Palestinian branch of Bank Al-Etihad by TNB. Thereby Bank El-Etihad’s stake reaches 7.5 million shares in TNB’s paid- up capital (10% of the paid-up capital). It is worth mentioning that the trading volume of the institutional transactions reached 3.47 million, while, the remaining shares were completed from the unsubscribed shares of the latest secondary subscription by the bank during October 2014, in which, 25 million shares were subscribed to the bank’s shareholders. 

Within this period and following disclosing the preliminary annual financial data of the listed companies, the dividends distributions announcements for the year 2014 accelerated. In this context, the board of directors BOD of Palestine Islamic Bank ISBK recommended distributing 8.50% cash dividends to the general assembly GA that will be holding a meeting on 21/04/2015. ISBK is the first bank to propose dividends distribution.  Moreover, the industry sector witnessed the highest pace in this regard, whereby, four companies proposed distributing dividends, while, one company out of twelve approved distributing cash dividends for the year 2014. In this sector, Birzeit Pharmaceuticals Company BPC proposed distributing 17% cash dividends.  Al-Shark Electrode Company ELECTRODE also recommended distributing 11.50% cash dividends. Moreover, Jerusalem Pharmaceuticals Company JPH recommended distributing 7% cash dividends and the Vegetable Oil Industries Company VOIC proposed 50% cash dividends. On the other hand, the Arab Company for Paint Products APC approved distributing 40% cash dividends foe its shareholders as for 15/02/2015.

Furthermore, three companies out of seven in the insurance sector raised their recommendations regarding the dividends distribution. The BOD of Global United Insurance Company GUI recommended distributing 5% cash dividends for the year 2014. Moreover, the BOD of the National Insurance Company NIC and Al-Takaful Insurance Company TIC recommended distributing 15% cash dividends. One listed company in the services sector till this moment has recommended distributing cash dividends. Palestine Telecommunications PALTEL has recommended distributing 45% cash dividends to the GA that will be holding a meeting on 24/03/2015. None of the listed investment sector companies has raised any dividends distribution recommendation. The investors are anticipating the BOD meeting on Palestine Development and Investment Company PADICO that will take place on 10/03/2015.

 

 


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
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