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Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20

Sahem Weekly Trading Report (17-20)-04-2017

For the third week in row, Al-Quds Index declined by 0.21% compared to its previous weekly closing level, to close in this week with four trading sessions at the level of 523.44 points after trading in a relatively narrow range. Moreover, Palestine Stock Exchange PEX witnessed medium liquidity that was raised through executing two transactions worth 1.42 million shares on the stock of the largest investment company by market capitalization –Palestine Development and Investment PADICO-, to top the PEX by 41.38%. On the other hand, the significant news on the listed companies in Palestine Stock Exchange PEX accelerated this week; varied between quarterly financial data disclosures and dividends distribution announcements; adding to the investors’ anticipation another degree of caution and accuracy parallel to the lack of general political factors. During the week, some listed companies witnessed distinguished financial and operating results for the first quarter of 2017, while, three new companies approved dividends distribution for the year 2016.

 

Regarding the dividends’ entitlements for the year 2016, the general assembly of Birziet Pharmaceuticals Company BPC approved distributing 20% cash dividends for its shareholders starting from 15/05/2017. This came during a meeting that was held on 17/04/2017, to record dividends yield 3.91% based on the price on the entitlement date, and 49.26% payout ratio. Following this decision, the stock price automatically declined lower than its equivalent price after the distribution, to record weekly loss of 5.08%. Moreover, the general assembly of the National Bank TNB approved, in its meeting on 20/04/2017, distributing 5% cash dividends, to record dividends yield of 2.72% based on the stock’s price on the entitlement date, and 50.51% payout ratio. Furthermore, the general assembly of Palestine Electric Company PEC approved, in its meeting on 19/04/2017, distributing 10% cash dividends for the shareholders starting from 18/06/2017, to record dividends yield of 8.70% based on the price on the entitlement date, while, PEC’s price declined, but traded above its equivalent price.

 

According to the significant news regarding the listed companies, the Vegetable Oil Industries VOIC disclosed its financial results for Q1 2017, noting posting net income of JD1.07 million in the first three months of the year 2017; up by 13.13% than the corresponding period of 2016. This followed a growth in gross and operating profits, in addition to an increase in the available for sale assets. Accordingly, VOIC records book value BV of JD6.86 and P/BV of 1.46x. It also records earnings per share EPS of JD0.27 and PE ratio of 9.26x. It is worth mentioning that the company will be holding a general assembly meeting on 27/04/2017, to discuss distributing 60% cash dividends, to record 6.00% dividends yield based on the current price. In the banking sector, the National Bank TNB disclosed reporting net income of $2.77 million in Q1 2017 compared to net income of $2.53 million in the corresponding period of 2016. This followed 19.44% growth in net interest and commissions. Accordingly, TNB records BV of $1.27 and P/BV of 1.44x. It also records EPS of $0.04 and PE ratio of 12.42x.


 

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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