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Al-Quds Index below the 500-point level again

2015-03-19

Sahem Weekly Trading Report (15-19)/03   2015/

Despite the acceleration of the listed companies’ announcements regarding distributing dividends to the shareholders for 2014, Al-Quds Index declined, this week, below the 500-point level; trading around the levels of the beginning of the year, following the declines in the prices of the leading stocks with the heaviest weights in the index. However, the results of the Israeli elections that maintained the right wing’s domination on the government had an effect on fading the hopes for a potential change that may have eased dealing with the Israeli-Palestinian issues. In all cases, the observer may see the control of the fact of lack of incentives with higher momentum and leverage on the companies’ dividends distribution recommendations. Whereby, Palestine Stock Exchange PEX is in need for liquidity that is supported with general sustainable  element- despite the sustainability of the investment feasibility in companies- in order to reach to other price levels and add up to the return on investment.

Within the recommendations of the blue-chips, the strategies of the three companies that weight 70% of Al-Quds Index were announced following the recommendation of Bank of Palestine BOP, in this week, to distribute 21.375% dividends for the year 2014. This slightly reduces the anticipation of the investors in the PEX in this matter, but may be directed for some other companies like the Arab Palestinian Investment Company APIC, which in turn is reporting some market indicators of leading companies despite its lower weight in the index. As for BOP’s recommendation, 12% cash dividends and 9.275% stock dividends was proposed for the year 2014, to record dividends yield of 4.44%. The proposed bonus stocks will increase BOP’s paid-up capital to $175 million.

In this context, the board of directors of Al-Quds Bank QUDS and Palestine Poultry Company AZIZA raised their recommendations regarding distributing dividends, to increase the number of companies with recommendations to 17 companies out of 48 listed companies, while, one company approved its recommendation after holding its GA meeting. In this regard, the BOD of Al-Quds Bank recommended 5% cash dividends and 10% stock dividends, to record dividends yield of 4.81%. QUDS’s paid-up capital will increase, after the bonus stocks, to $52.50 million. On the other hand, the BOD of AZIZA raised a recommendation to distribute 12% cash dividends for the year 2014, to record dividends yield of 4.29%.

 

 


 

2020-09-24
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2020-09-10
The PEX records average PE of 20.9x in H1 2020

2020-09-03
Al-Quds Index in the green zone amid medium-volume transactions

2020-09-03
PRICO realizes net loss of JD0.73 million in H1 2020

2020-09-03
JCC reports net income of JD0.27 million in H1 2020

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BPC records net income of $3.62 million in H1 2020

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BJP posts net income of JD0.31 million in H1 2020

2020-09-03
BJP posts net income of JD0.31 million in H1 2020

2020-09-03
PIBC posts net income of $1.21 million in H1 2020

2020-09-03
GMC posts net income of JD0.28 million in H1 2020

2020-09-03
WASSEL realizes net loss of $0.19 million in H1 2020

2020-09-03
AHC realizes net income of JD1.49 million in H1 2020

2020-09-03
JPH posts net income of $1.17 million in H1 2020

2020-09-03
TNB realizes net loss of $0.98 million in H1 2020

 

 

 
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