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Scarce liquidity in the dividends distribution and the quarterly disclosures seasons

2018-04-05

Sahem Weekly Trading Report (01-05)-04-2018

Unlike last week, which witnessed executing major acquisition transaction on the shares of Palestine Islamic Bank ISBK and therefore lifting the trading value significantly, this week is characterized with scarcity, where the observer monitors the quiet pace in general and lack of speculations despite attempts to catch investment opportunities and enlarge the yield during the dividends distribution period. In the same context, Al-Quds Index remained in the red zone with a decline by 1.20% than its previous weekly closing level, to close at the level of 558.78 points. This was due to the dividends’ entitlement of the two largest companies in terms of market capitalization in Palestine Stock Exchange PEX. As the period of holding the general assembly meetings of the listed companies is still at its most, the PEX has entered the legal period of disclosing the first quarter of 2018 financial data with the start of April. This leads to an overlapping in the anticipation factors among investors and prevailing prices solidity in this period given the fact of conservatism domination more than changing the investment positions.

In terms of dividends entitlement, the general assembly of AL-Takaful Palestinian Insurance Company TIC approved, in its meeting on 03/04/2018, distributing 10% cash dividends to its shareholders for the year 2017, to record 5.00% dividends yield based on the price on the entitlement date and 45.66% payout ratio based on the EPS of 2017. Based on this approval, the number of companies that approved distributing dividends reached seven since the beginning of the distribution season, including the two largest companies in terms of market capitalization – Palestine Telecommunication PALTEL and Bank of Palestine BOP -. Whereby, the stock of the largest company in terms of market capitalization and the heaviest weighed stock in Al-Quds index – Palestine Telecommunication PALTEL – traded lower than its equivalent price by 1.16%, while, the stock of the largest bank in terms of market capitalization – Bank of Palestine BOP – traded higher than its equivalent price by 1.58%.

Regarding the significant news of this week, the leading company - the Arab Palestinian Investment Company APIC - announced acquiring a stake of 6.2% from the paid-up capital of the Jordanian company “MadfooatCom” in a transaction worth $2.3 million as part of its strategic plan to diversify its investments and boost its revenues. It is good to note that “MadfooatCom” is an acclaimed leader in financial services technology based in Amman, Jordan. Established in 2011 and provides solutions for consumers in the MENA region and beyond to view and pay their bills with ease, comfort and speed. It has a platform, “eFAWATEERcom”; established in partnership with the Central Bank of Jordan, and has processed over 6 million invoices valued at $4.3 billion and growing rapidly.

 


 

2021-02-25
The PEX records average PE of 16.6x and average P/BV of 1.10x at the end of 2020

2021-02-25
VOIC recommends distributing 50% cash dividends for 2020

2021-02-24
BPC proposes distributing 2% stocks dividends and 15% cash dividends for the year 2020

2021-02-24
The end of the legal granted period to disclose the prelimanry financial data for 2020

2021-02-22
MIC proposes 8.27% cash dividends for the year 2020

2021-02-21
Al-Quds Index in the red zone and a momentum in the significant news

2021-02-16
NIC proposes distributing 15% stocks dividends and 22.5% cash dividends for the year 2020

2021-02-16
JCC posts net income of JD2.33 million in 2020

2021-02-16
OOREDOO posts net income of $7.54 million in 2020

2021-02-16
PRICO realizes net loss of JD3.57 million in 2020

2021-02-16
PIIC posts net income of JD5.41 million in 2020

2021-02-16
AIB posts net income of $8.01 million in 2020

2021-02-16
PIBC posts net income of $3.27 million in 2020

2021-02-16
LADAEN realizes net loss of JD0.01 million in 2020

2021-02-16
NCI posts net income of $0.80 million in 2020

2021-02-16
WASSEL posts net income of $0.17 million in 2020

2021-02-16
MIC posts net income of $1.28 million in 2020

2021-02-16
JPH posts net income of $3.96 million in 2020

2021-02-16
ARAB posts net income of JD0.54 million in 2020

2021-02-16
PSE posts net income of $0.40 million in 2020

2021-02-16
PID realizes net loss of JD0.83 million in 2020

2021-02-16
BPC posts net income of $7.24 million in 2020

2021-02-16
BJP posts net income of JD0.75 million in 2020

2021-02-16
RSR posts net income of JD0.26 million in 2020

2021-02-16
NSC posts net income of JD0.49 million in 2020

2021-02-16
PEC posts net income of $9.38 million in 2020

2021-02-16
GMC posts net income of JD0.07 million in 2020

2021-02-16
AZIZA posts net income of JD4.57 million in 2020

2021-02-16
AQARIYA posts net income of $0.96 million in 2020

2021-02-16
AHC realizes net loss of JD2.99 million in 2020

2021-02-16
AIG posts net income of $0.76 million in 2020

2021-02-16
TIC posts net income of $2.22 million in 2020

2021-02-16
PALTEL posts net income of JD43.04 million in 2020

2021-02-16
BOP posts net income of $22.88 million in 2020

2021-02-16
PADICO posts net income of $5.07 million in 2020

2021-02-16
NIC posts net income of $7.81 million in 2020

2021-02-16
TNB records net income of $0.31 million in 2020

2021-02-16
QUDS reports net income of $10.90 million in 2020

2021-02-15
GUI reports net income of $2.33 million in 2020

2021-02-15
ISBK posts net income of $11.17 million in 2020

2021-02-15
JREI realizes net loss of $0.04 million in 2020

2021-02-15
PALTEL proposes distributing 30% cash dividends for the year 2020

2021-02-15
VOIC posts net income of JD6.23 million in 2020

2021-02-14
ABRAJ posts net income of $1.28 million at the end of 2020

2021-02-14
APC posts net income of JD0.87 million at the end of 2020

2021-02-14
UCI posted net income of $1.20 million at the end of 2020

2021-02-11
A decline in the Index in anticipation for the next week

2021-02-10
TRUST proposes distributing 10% cash dividends for the year 2020

2021-02-04
Al-Quds Index declines and the start of the annual disclosures acceleration

2021-02-02
NAPCO posts net income of JD0.007 million at the end of 2020

2021-02-01
APIC records net profits of $24.65 million at the end of 2020

 

 

 
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