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Scarce trading and a momentum in the dividends’ distribution approvals

2019-04-25

 Sahem Weekly Trading Report (21-25)-04-2019

In this week also, the leading stocks with heaviest weights in Al-Quds Index that approved dividends distribution for the year 2018 are still trading in lower prices than their equivalent prices after the distribution, leading Al-Quds Index to close at the level of 527.96 points; down by -0.59% than its previous weekly closing level. On another hand, Palestine Stock Exchange PEX witnessed a momentum in the significant news; varied between dividends distribution approvals and quarterly financial data disclosures. Whereby, 6 new listed companies approved their dividends distribution for this week; either cash or cash and stocks together. While the listed companies accelerated to disclose their Q1 2019 financial data; adding to the investors’ anticipation another degree of accuracy and caution.

Regarding the dividends’ distribution approvals for the year 2018, the general assembly GA of Al-Quds Bank QUDS approved, in its meeting on 21/04/2019, raising the paid-up capital from $83.57 million to $90.17 million through distributing 7.90% stocks dividends for the year 2018. It also approved distributing 5.60% cash dividends to its shareholders for the year 2018, to record dividends yield of 2.95% based on the price on the entitlement date. Also, the GA of Jerusalem Pharmaceuticals Company JPH approved, in its meeting on 21/04/2019, distributing 10% cash dividends for the year 2018, to record dividends yield of 3.10% based on the price on the entitlement date. Moreover, the GA of Birzeit Pharmaceuticals Company BPC approved, in its meeting on 22/04/2019, distributing 15% cash dividends for the year 2018, to record dividends yield of 2.91% based on the price on the entitlement date. In the same context, the GA of Palestine Investment Bank PIBC approved, in its meeting on 23/04/2019, raising the paid-up capital from $75.00 million to $78.00 million through distributing 4% stocks dividends for its shareholders. It also approved distributing 4% cash dividends for the year 2018, to record dividends yield of 3.51% based on the price on the entitlement date. On another hand, the GA of Al-Mashriq Insurance Company MIC approved, in its meeting on 23/04/2019, distributing 2.30% cash dividends for the year 2018, to record dividends yield of 0.86% based on the price on the entitlement date. It also proposed to the extraordinary general assembly, which will be holding a meeting on a date to determine later, raising the paid-up capital from $5.20 million to $5.60 million through distributing 7.70% stocks dividends for the year 2018. Also, the GA of the Vegetable Oil Industries Company VOIC approved, in its meeting on 24/04/2019, distributing 60% cash dividends for the year 2018, to record dividends yield of 4.21% based on the price on the entitlement date.

Regarding the listed companies’ Q1 2019 financial and operational data disclosures, the Vegetable Oil Industries Company VOIC disclosed posting net income of JD1.67 million in the first three months of the year 2019; down by 5.21% than the corresponding period of 2018. This followed a decline in the company’s net sales and its share of affiliates profits. Based on the disclosed figures, VOIC records book value BV of JD8.77 and P/BV of 1.62x. On another hand, Bank of Palestine BOP disclosed posting net income of $10.78 million in Q1 2019, compared to net income of $12.42 million in the corresponding period of 2018. This followed an increase of 666.39% in impairment provision for direct credit facilities and financing. Based on the reported figures, BOP records BV of $1.73 and P/BV of 1.26x. On the other hand, Palestine Electric Company PEC disclosed posting net income of $2.66 million in Q1 2019; down by 34.27% than the corresponding period of 2018. This followed an increase in the company’s expenses. Based on the reported figures, PEC records BV of $1.55 and P/BV of 0.85x. 


 

2020-05-21
Idleness in trading prior to Eid Al-Fitr holiday

2020-05-21
PIBC approves distributing 4% cash dividends for the year 2019

2020-05-20
APIC proposes distributing 6.74% cash dividends and 6.74% stocks dividends for the year 2019

2020-05-20
UCI posts net income of $0.15 million in Q1 2020

2020-05-19
MIC posts net income of $0.56 million in Q1 2020

2020-05-19
TIC posts net income of $0.83 million in Q1 2020

2020-05-18
SANAD realizes net loss of $0.55 million in Q1 2020

2020-05-18
WASSEL posts net income of $0.03 million in Q1 2020

2020-05-18
TNB posts net income of $7.80 million in Q1 2020

2020-05-18
ELECTRODE realizes net loss of JD0.004 million in Q1 2020

2020-05-18
GUI posts net income of $0.77 million in Q1 2020

2020-05-18
AQARIYA posts net income of $0.08 million in Q1 2020

2020-05-18
JCC posts net income of JD0.09 million in Q1 2020

2020-05-18
OOREDOO posts net income of $1.28 million in Q1 2020

2020-05-18
TRUST posts net income of $1.18 million in Q1 2020

2020-05-17
NCI records net income of $0.09 million in Q1 2020

2020-05-17
PID realizes net loss of JD0.52 million in Q1 2020

2020-05-17
PRICO realizes net loss of JD0.29 million in Q1 2020

2020-05-17
RSR posts net income of JD0.07 million in Q1 2020

2020-05-17
NIC reports net income of $1.18 million in Q1 2020

2020-05-17
PADICO realizes net loss of $0.52 million in Q1 2020

2020-05-17
JPH posts net income of $1.22 million in Q1 2020

2020-05-17
ISBK records net income of $3.09 million in Q1 2020

2020-05-17
JREI realizes net loss of $0.03 million in Q1 2020

2020-05-17
PALTEL posts net income of JD7.03 million in Q1 2020

2020-05-14
Scarce trading and a momentum in the substantial news

2020-05-13
BPC reports net income of $0.99 million in Q1 2020

2020-05-13
VOIC posts net income of JD0.33 million in Q1 2020

2020-05-13
AZIZA posts net income of JD0.99 million in Q1 2020

2020-05-13
LADAEN posts net income of JD0.009 million in Q1 2020

2020-05-13
PIIC posts net income of JD0.64 million in Q1 2020

2020-05-13
PSE realizes net loss of $0.01 million in Q1 2020

2020-05-13
JPH approves distributing 10% cash dividends for the year 2019

2020-05-13
ELECTRODE approves distributing 6% cash dividends for the year 2019

2020-05-10
PEC reports net income of $2.85 million in Q1 2020

2020-05-10
AIB posts net income of $2.00 million in Q1 2020

2020-05-10
GMC posts net income of JD0.19 million in Q1 2020

2020-05-10
ABRAJ posts net income of $0.08 million in Q1 2020

2020-05-07
Al-Quds Index in the red zone amid the start of Q1 2020 financial data disclosures

2020-05-05
PALTEL starts to pay the approved dividends distribution

2020-05-05
NAPCO realizes net loss of JD0.29 million in Q1 2020

2020-05-05
APIC posts $5.12 million net income in Q1 2020

 

 

 
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