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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.

 


 

2020-09-24
Al-Quds Index below the 440 points level amid scarce liquidity

2020-09-17
Transactions on APIC raise the trading value fiery

2020-09-17
Delisting the stocks of the Arab Real Estate Establishment ARE and Globalcom Telecommunications GCOM from the PEX

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

2020-09-03
BPC records net income of $3.62 million in H1 2020

2020-09-03
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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