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Dividends distribution momentum for the year 2017 and acceleration in the quarterly disclosures

2018-04-26

Sahem Weekly Trading Report (22-26)-04-2018

In this week, some of the leading stocks closed in the green zone, while, others closed in the red zone with varying gains and losses. However, the leading stocks with heaviest weights in Al-Quds Index that approved dividends distribution for the year 2017 are still trading in lower prices than their equivalent prices, leading Al-Quds Index to close at the level of 545.87 points; down by 0.82% than its previous weekly closing level. In another context, executing several institutional transaction that exceed 460 thousands shares on the stocks of the largest company in Palestine Stock Exchange PEX in terms of market capitalization- Palestine Telecommunications PALTEL- and transactions on the stock of Al-Quds Bank QUDS, raised the trading value of the PEX this week. On another hand, the first quarter disclosures blend with the dividends distribution decisions for the previous year; adding to the investors’ anticipation another degree of caution and accuracy.

Regarding the significant news that vary between dividends distribution approvals and quarterly financial data disclosures, the general assembly GA of the Vegetable Oil Industries Company VOIC approved, in its meeting on 24/04/2018, distributing 60% cash dividends for the year 2017, to record dividends yield of 4.14% based on the price on the entitlement and payout ratio of 35.13% based on the EPS of 2017. On the other hand, VOIC disclosed its financial data for Q1 2018, noting posing net income of JD1.76 million in the first three months of the year 2018; up by 64.13% than the corresponding period of 2017, to record book value BV of JD8.86 and P/BV of 1.62x. However, in the banking and financial services sector, the GA of the National Bank TNB approved, in its meeting on 24/04/2018, distributing 5% cash dividends to its shareholders, to record dividends yield of 2.75% based on the price on the entitlement date and payout ratio of 40.65% based on the EPS of 2017. In another context, the National Bank TNB disclosed posting net income attributable to the shareholders of the bank of $3.20 million in Q1 2018; up by 15.39% than the corresponding period of 2017, to record BV of $2.60 and P/BV of 0.69x. However in the same sector, the GA of Palestine Investment Bank PIBC approved, in its meeting on 24/04/2018, raising the paid-up capital from $71.70 million to $75.00 million through distributing 4.60% stocks dividends for the year 2017. 

In the same context, some listed companies held their general assembly GA meetings on 25/04/2018 and approved distributing either cash dividends or both cash and stocks dividends for the year 2017. Regarding these companies, the GA of Palestine Industrial Investment Company PIIC – the investment arm of Palestine Development and Investment Company PADICO in the agricultural and industrial sectors – approved distributing 10% cash dividends to its shareholders, to record 3.77% dividends yield based on the price on the entitlement date and 39.53% based on the EPS of 2017. On the other hand, PIIC disclosed recording net income attributable to the shareholders of the parent company of JD1.33 million in Q1 2018, compared to JD1.38 million in Q1 2017, to record BV of JD2.29 and P/BV of 1.16x.  Also, the GA of Palestine Poultry Company AZIZA – a subsidiary of PIIC - approved distributing 15% cash dividends to its shareholders, to record 5.68% dividends yield based on the price on the entitlement date and 63.29% payout ratio based on the EPS of 2017. In addition, the GA of Beit Jala Pharmaceutical BJP approved distributing 15% cash dividends to its shareholders, to record 6.25% dividends yield based on the price on the entitlement date and 63.83% based on the EPS of 2017. On the other hand, the GA of Birzeit Pharmaceutical Company BPC approved raising the paid up capital from $18.50 million to $19.00 million through distributing 2.70% stocks dividends to its shareholders. The GA also approved distributing 20% cash dividends for the year 2017, to record 3.92% dividends yield based on the price on the entitlement date and 36.30% based on the EPS of 2017. Also, the GA of Sanad Construction Resources SANAD approved raising the paid up capital from $66.00 million to $69.30 million through distributing 5% stocks dividends to its shareholders. It also approved distributing 5% cash dividends for the year 2017, to record 1.87% dividends yield based on the price on the entitlement date and 35.71% based on the EPS of 2017.


 

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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