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Significant news momentum reinforces Al-Quds Index’s support level

2016-04-28

Sahem Weekly Trading Report (24-28)-04-2016

The significant news on listed companies in Palestine Stock Exchange PEX accelerated this week; varied between quarterly financial data disclosures and dividends distribution announcements, while other news concentrated on strategic changes in the shareholders’ base of one listed company. In total, the positive news with their both parts –distinguished disclosures and feasible dividends- balanced the impact of ex-dividends exit and movement between the stocks with dividends’ recommendations. Whereby, the observer identifies the technical and physiological support level at 500 points, which results from the accumulation of the blue-chips’ purchasing bids in their depth around their support levels. During this week, some Q1 2016 disclosures were distinguished, while three new companies approved dividends distribution for the year 2015, in addition, Bank of Palestine BOP purchased an additional stake of 31% in the Arab Islamic Bank AIB based on the general assembly decision on 25/03/2016.

Regarding the companies that announced their dividends distribution strategies for the year 2015, the general assembly GA of the Vegetable Oil Industries Company VOIC approved distributing 60% cash dividends to its shareholders as for 27/04/2016 for the year 2015, to record payout ratio of 44.78% based on the EPS of 2015 and dividends yield of 6.15%. Moreover, the GA of the National Carton Industry Company NCI approved distributing 8% cash dividends to its shareholders as for 27/04/2016 for the year 2015, to record payout ratio of 82.47% based on the EPS of 2015 and dividends yield of 6.96%. Furthermore, the GA of Union Construction and Investment Company UCI approved distributing 6% cash dividends which was recommended by the board of directors in its meeting prior to the GA meeting in the same day, to record dividends yield of 15.79% and payout ratio of 857% based on the EPS of 2015. UCI based its decision on the availability of the retained earnings which recorded $7.80 million at the end of 2015; around 24.39% of the paid-up capital. It is good to note that the number of companies that approved dividends distribution reached 14 companies till this moment.

Regarding the distinguished financial data disclosures, the data of Bank of Palestine BOP showed an increase of 4.09% in its Q1 2016 net income to reach $10.40 million. Furthermore, the National Bank TNB noted posting net income of $2.53 million in the first three months of the year 2016; significantly up by 53.84% compared to the corresponding period of 2015. Moreover, the Arab Palestinian Investment Company APIC disclosed posting an increase of 20.06% in its net income attributable to the shareholders of the parent company to record $2.15 million. Regarding the other distinguished disclosures, Wataniya Palestine Mobile Telecommunication WATANIYA noted posting profits for the first time since its establishment, whereby noted posting $0.25 million in Q1 2016, compared to net loss since the year 2010. The Palestinian Company for Distribution and Logistics WASSEL also recorded profits in this quarter compared to loss before, whereby, it noted posting net income of $0.19 million in Q1 2016 compared to net loss in the corresponding period of 2015. On the other hand, Palestine Telecommunications PALTEL disclosed its financial data at the end of the week, noting posting stability in its net income in Q1 2016 compared to the corresponding period of 2015, whereby, it recorded net income of JD2.36 million; up by 0.64%.

 

 

 


 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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