Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Medium liquidity prior to holding the GA meetings of the heaviest two weighted companies in the index

2017-03-30

 Sahem Weekly Trading Report (26-30)-03-2017

Al-Quds Index ended the first quarter of 2017 up by 0.06% than its previous weekly closing level, to trade in this week at its highest levels since the beginning of the year and close at 538.87 points. On the other hand, Palestine Stock Exchange PEX witnessed medium liquidity levels prior to holding the general assembly meetings of the two leading companies with the highest weights in the Index- Palestine Telecommunications PALTEL and Bank of Palestine BOP- in the next week, to approve the dividends distribution. In this context, the variation scope concerning the traders’ interests is enhanced during this period; the buyer of the stock in this drop trend – discounted by dividends value- may be motivated by the historical technical performance of the share in pre and post the dividends entitlement announcement or by the expected company’s profits growth or else by the share’s attractive market indicators related to the new recorded low price. While the seller of a stock with discounted price by the dividends value may be motivated by liquidating his holdings in order to capture another stock that holds dividends in a near period or the trader himself has just achieved a targeted total shareholder’s return (dividends and capital gain).

 

In terms of dividends entitlements and their effects, the general assembly of Palestine Islamic Bank ISBK approved, in its ordinary and extraordinary meetings on 29/03/2017, raising the subscribed and paid-up capital by $6.50 million to reach $69 million through distributing $3.50 million stocks dividends (5.60% from the paid up capital prior to the distribution), and $3.00 million through secondary subscription at the price of $1.65 ($1 par value and 0.65 premium). The subscription will start on Sunday 16/04/2017 and end on Sunday 14/05/2017. Furthermore, the shareholders as of the PEX records on Monday 10/04/2017 are able to subscribe. On the other hand, the general assembly also approved distributing $5.31 million cash dividends (8.50% from the paid up capital prior to the distribution), to record 3.78% dividends yield based on the stock’s price on the entitlement date and 42.08% payout ratio. However, ISBK’s price declined to trade at its equivalent price and close at the level $2.05 through active transactions worth $1.24 million; to top the PEX by trading value. Regarding the dividends distribution announcements, the board of directors of Ramallah Summer Resorts RSR raised a recommendation to the general assembly, which will be holding a meeting on 07/05/2017, to distribute 7% cash dividends for the year 2016, to record dividends yield 2.60% based on the current market price.

 

Regarding this week’s trading and in the context of Blue-chips, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- secondly topped the PEX when its transactions reached $1.23 million, to close at the level of JD5.13 after trading in a relatively wide range and witness gains of 1.18%. This followed an increased in the purchasing orders in anticipation for holding the general assembly meeting next week to approve distributing 40% cash dividends for the year 2016. On the other hand, Bank of Palestine BOP- the largest bank by market capitalization- decreased by 1.46%, to close at the level of $2.70, after transactions worth $0.52 million. It is good to note that BOP will hold its general assembly meeting next week to approve distributing $25.35 million dividends (stocks and cash); lower than the dividends’ distribution in the previous years.  Far from trading, the announcements to hold the board of directors’ meetings for the listed companies increase to discuss their strategies regarding the dividends distribution for 2016. By the end of the business week, 4 companies has approved distributing dividends for 2016, while, 14 companies proposed dividends’ distribution and determined their general assembly meetings dates.

 


 

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