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Al-Quds Index increases with the end of the quarterly financial data disclosures’ season

2017-05-04

Sahem Weekly Trading Report (30-04)-(04-05)-2017

Amid the quarterly financial disclosures receding after the end of the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their financial data for Q1 2017, in addition to the slowing in the pace of holding the general assembly GA meetings of the companies,  Al-Quds Index increased in this week- with four trading sessions- supported by an increase in the prices of some blue-chips versus a slight decline in others, to close at the level of 525.85 points; up by 0.55% than the previous week. On the other hand, the PEX still witnesses relatively medium liquidity levels controlled by the leading stock of Palestine Development and Investment Company PADICO, which witnessed active trading- for the third week in row- prior to holding the GA meeting in the coming two weeks. However, the attention is dragged on the coming period in waiting for any positive point, which in turn, would lead to a beginning of transformation or any reversed direction, supported by the institutional and foreign liquidity to stimulate in individual or local speculative rotation. 

Regarding the dividends’ entitlements for the year 2016, the GA of Palestine Investment Bank PIBC approved, in its meeting on 30/04/2017, distributing 2.35% stock dividends, to raise the paid up capital to $61.00 million. In addition, the GA of Beit Jala Pharmaceuticals BJP approved, in its meeting on 03/05/2017, distributing 15% cash dividends, to record 6.22% dividends yield based on the price on the entitlement date and 54.55% payout ratio. Also, the GA of Palestine Industrial Investment Company PIIC – PADICO Holding’s Investment arm in the industry and agriculture sectors- approved the board of directors BOD’s recommendation to distribute 6% cash dividends, to record 2.67% dividends yield based on the price on the entitlement date and 27.91%payout ratio. This came at the GA meeting which was held on 04/05/2017. At the same date, the GA of Palestine Poultry Company AZIZA- a subsidiary of Palestine Industrial Investment Company PIIC- approved, distributing 18% cash dividends, to record 6.77% dividends yield based on the price on the entitlement date and 75.00% payout ratio. On the other hand, the GA of Union Construction and Investment Company UCI approved, in its meeting on 02/05/2017, the BOD’s recommendation in its meeting prior to the GA meeting, distributing 5.50% cash dividends, to record 12.50% dividends yield based on the price on the entitlement date and 183.33% payout ratio.

Regarding the quarterly financial data disclosures of the blue-chips, Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- disclosed posting net income attributable to the shareholders of the parent company of $4.23 million in the first three months of the year 2017; down by 36.20% compared to the corresponding period of 2016. This followed a decrease in PADICO’s stake from its associates’ profits and a decrease in PADICO’s operating revenues which usually come from its subsidiaries. Based on the disclosed figures, PADICO records book value BV of $1.78 and P/BV of 0.68x. it is worth mentioning that the company will be holding its GA meeting on 15/05/2017, to discuss distributing 5% cash dividends for the year 2016, to record 4.10% dividends yield based on the current market price. In the same context, Bank of Palestine BOP – the largest bank by market capitalization- disclosed recording net income of $12.35 million in the first three months of the year 2017; up by 18.74% compared to the corresponding period of 2016. This followed a noticeable increase of 42.06% in net interests, commission, financing and investment income. Based on the disclosed figures, BOP records BV of $1.94 and P/BV of 1.27X.

 


 

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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