Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Companies initiate annual disclosures and dividends recommendations

2017-02-09

Sahem Weekly Trading Report (05-09)-02-2017

Al-Quds Index touched, in this week, levels that has abandoned since the first quarter of 2016, to rebound upward by 2.93% than its previous closing level and close at the level of 536.45 points with the return of the listed companies’ stocks- especially the blue-chips- to price levels that have declined from. This increase followed several consecutive weekly declines. Regarding the liquidity levels, it was slow and weak with the increase in the anticipation intensity coinciding with the approaching end of the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their preliminary financial data disclosures.

Regarding this week’s trading, the stock of the largest company by market capitalization- Palestine Telecommunications PALTEL- topped the PEX by trading value when recorded $1.94 million. However, the stock returned to trade around levels that has dropped from lately, to close at the level of JD5.00 ; up by 3.09% than its previous closing level. In the banking and financial services sector, the transactions of Palestine Islamic Bank ISBK reached $1.53 million, to close at the level of $2.19; significantly up by 11.73% after trading in a relatively wide range. Moreover, the stock of Bank of Palestine BOP- the largest bank by market capitalization- increased by 1.48%, to close at the level of $2.74, through transactions worth $0.25 million. Furthermore, an increase was witnessed in the price of the leading stock of the Arab Palestinian Investment Company APIC by 0.53%, to close at the level of $1.90 through transactions worth $0.89 million. Also, the stock of the largest investment company by market capitalization- Palestine Development and Investment Company PADICO-  increased by 2.83%, to close at the level of $1.09 through transactions worth $0.46 million.

Regarding the substantial news, Palestine Electric Company PEC disclosed its annual financial data, noting posting net loss of $0.65 million for the year 2016; sharply down by 104.75% than the year 2015 after recording bad debts of $15.91 million in the year 2016. While according to the disclosure, PEC noted giving up $30 million accounts receivables by the Palestinian Energy and Natural Resources Authority to be recorded as bad debts. Accordingly, PEC records book value of $1.42 and P/BV of 0.89x. On the other hand, Palestine Telecommunications PALTEL disclosed posting net income of JD80.06 million in 2016; down by 3.62% than the year 2015. This decrease followed recording losses from investments of JD0.69 million in the year 2016. Accordingly, PALTEL records book value of JD4.21 and P/BV of 1.19x.

Regarding the dividends proposals for the year 2016, the board of directors of Global United Insurance Company GUI  proposed to the general assembly, which will be holding a meeting on 10/04/2017, distributing 10% cash dividends, to record dividends yield of 6.33% based on the current market price. Moreover, the board of directors of Palestine Telecommunications Company PALTEL raised a recommendation to the general assembly that will be holding a meeting on 05/04/2017, to distribute 40% cash dividends, to record dividends yield of 8.00% based on the current market price.

 


 

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.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013