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Successive anticipations coinciding with proposing dividends’ distribution

2017-03-16

 Sahem Weekly Trading Report (12-16)-03-2017

This week, Al-Quds Index maintained a relatively narrow price range, to close at the level of 536.85 points; up by 0.28% than its previous closing level. On another hand and despite the reinforcement of the investment feasibility in Palestine Stock Exchange PEX- with the expectations’ rise of the returns’ achievement with the increase in dividends’ proposals of the listed companies- , the calmness in the PEX may be justified with the decline in the general incentives. However, with the approaching end of the first quarter of the year 2017, the coming period will witness new anticipation with the start of listed companies to disclose their quarterly financial and operational results, to charge some optimism for that could appear as new liquidity activity.

Within the blue-chips recommendations regarding distributing dividends for the year 2016, the board of directors of Bank of Palestine BOP- the largest bank by market capitalization- raised a recommendation to the general assembly, which will be holding a meeting on 06/04/2017, to distribute $25.35 million dividends for the shareholders; $4.99 million as stocks dividends, to raise the paid-up capital to $200 million (2.56% from the paid-up capital before the distribution), and $20.36 million as cash dividends (10.44% from the paid-up capital before the distribution). Accordingly, BOP records payout ratio of 40.00% based on the EPS attributable to the shareholders of the parent company as for the end of 2016, and dividends yield of 3.87% based on the current stock price. Moreover, the board of directors of the National Bank TNB recommended to the general assembly, which will be holding a meeting on 20/04/2017, distributing 5% cash dividends, to record payout ratio of 50.51% and dividends yield of 2.56%. On the other hand and in the insurance sector, Trust International Insurance company TRSUT proposed to the general assembly distributing 15% cash dividends, to record payout ratio of 34.01% and dividends yield of 3.33%.

Regarding this week’s trading, the leading stock of the Arab Palestinian Investment Company topped the PEX when recorded trading value of $1.76 million, to decrease by 3.11% and close at the level of $1.87 after trading in a relatively wide range. In the banking sector, trading was active on the stock of Al-Quds Bank QUDS after reporting transactions worth $1.47 million, to close at the level of $1.45; up by 3.57% than its previous closing level. Moreover, the stock of Palestine Islamic Bank ISBK witnessed active trading worth $1.38 million, to close at the level of $2.16; down by 1.82% than its previous closing level. Regarding the largest company by market capitalization- Palestine Telecommunications PALTEL- , it increased by 1.00%, to close at the level of JD5.05 through transactions worth $0.94 million. However, Bank of Palestine BOP declined by 0.74%, to close at the level of $2.70 through transactions worth $0.81 million. Furthermore, the stock of Jerusalem Pharmaceuticals Company JPH witnessed active trading when reached $0.52 million, to close at the level of $1.70; down by 2.86% than its previous closing level. Regarding the largest investment company by market capitalization- Palestine Development and Investment Company PADICO- it increased by 2.83%, to close at the level of $1.09 after transactions worth $0.20 million.

 


 

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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