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Total dividends yield records 5.34% in the PEX


 Sahem Weekly Trading report (19-23)-07-2020

With the approaching end of July 2020 and the receding in the wave of holding the general assembly meetings for the listed companies after holding an ordinary and extraordinary general assembly meeting for Nablus Surgical Center NSC on 16/07/2020, and approving the distribution of 5% cash dividends for the year 2019, to record dividends yield of 2.50% based on the price on the entitlement, in addition to approving abolishing the maximum limit of shares ownership in the company, which is specified in the statute by 5% of the company’s shares, to become without any maximum limit, the dividends yield was formed at the ultimate.According to the approved dividends distribution, the cash dividends amount reached $139.63 million for the year 2019, to record total dividends yield of 5.34%, while the total approved stocks dividends reached 19.63 million shares worth $19.63 million. Whereas the total approved dividends (cash and stocks) stood at $159.27 million by the end of the penultimate week of July 2020.

Due to the approved dividends distribution by 22 of the listed companies, Palestine Stock Exchange PEX has entered a decreasing in prices phase for the companies that approved dividends to reach price balancing. While the major reason for the declining in Al-Quds Index, and its trading around these levels, is due to the decline in the prices of the stocks with heaviest weights- the leading stocks. In the same context, Al-Quds Index continued to decline in this week as well, closing at the level of 462.79 points; down by 0.30% than its previous weekly closing level amid heavy lack to liquidity that has dominated the trading in the PEX for a period of time.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBs, the overall Wholesale Price Index WPI in Palestine with its base year (2007) reached 124.00 in the second quarter of 2020, which indicates a decrease of 0.61% compared with the first quarter of 2020 which reached 124.77. WPI for local products (2007) reached 128.64 in the second quarter of 2020, which indicates a decrease of 0.75% compared with the first quarter of 2020 which reached 129.61. WPI for imported products (2007=100) reached 120.01 in the second quarter of 2020, which indicates a decrease of 0.38% compared with the first quarter of 2020 which reached 120.47. WPI for the second quarter of 2020 decreased due to the decrease in the activities of mining & quarrying by 1.76%, and the activities of manufacturing by 1.06%, while the activities of fishing increased by 7.41%, and the activities of agriculture increased by 0.35%.


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