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

2021-02-21

 Sahem Weekly Trading Report (14-18)-02-2021

In this week, the listed Palestinian companies in Palestine Stock Exchange PEX witnessed a momentum in the significant news coinciding with the end of the legal period granted to these companies to disclose their preliminary annual financial data for the year 2020. On the other hand, Al-Quds Index declined by 0.22% than the previous week, to close at the level of 487.72 points amid weak transactions. However, the anticipations dominated the trading nature in the few previous weeks in waiting for disclosing the companies’ financial data and their dividends distributions’ trend accordingly, while, the coming period will witness a variation in the investors’ behavior. Whereby, building investment positions for some stocks on one hand, and the price speculations that constitute an essential part within the stocks’ routine price cycles, in parallel to the dividends’ distribution season are what may distinguish the coming weeks.

Regarding the blue-chips financial data disclosures for the year 2020, the largest investment company in the PEX in terms of market capitalization- Palestine Development & Investment Company PADICO- disclosed posting net income attributable to the shareholders of the parent company of $4.07 million in 2020 compared to $18.70 million in 2019. This mainly came due to a decline in the company’s revenues, its stake from its associates’ profits despite a decline in the company’s expenses as well. Based on the disclosed figures, the company records book value BV of $1.49 and earnings per share EPS of $0.016. In another context, the largest bank in the PEX in terms of market capitalization- Bank of Palestine BOP- disclosed posting net income attributable to the bank of $20.12 million in 2020; down by 4.74% than 2019. This mainly followed a decline in the bank net interests, commissions, investing and financing income, income from real estate investment valuation, profits from financial assets, and profits from currency exchanges, in addition to recording a negative figure of impairment provisions from expected credit losses. Based on the disclosed figures, BOP records BV of $1.82 and EPS of $0.097. On another hand, the largest company in the PEX in terms of market capitalizations – Palestine Telecommunications PALTEL- posted net income attributable to the shareholders of the parent company of JD43.04 million in 2020, compared to JD63.97 million in 2019. This mainly came despite an increase in the company’s revenues, and due to recording JD5.77 million losses from investment in 2020 compared to JD8.02 million investment revenues in 2019, and due to a significant decline in the other revenues. Based on the disclosed figures, PALTEL records BV of JD3.26 and EPS of JD0.337. 

On another hand, the dividends proposal announcements for the year 2020 witnessed a momentum. In this week, the board of directors BOD of Palestine Telecommunications Company PALTEL raised a recommendation to the general assembly GA, which will be holding a meeting on 29/3/2021, to distribute 30% cash dividends for the year 2020, to record dividends yield of 7.25% based on the current market price. Also, in the insurance sector, the BOD of the National Insurance Company NIC proposed, to the GA, which will be holding ordinary and extraordinary meetings on 01/04/2021, raising the paid-up capital from $15.00 million to $17.25 million through distributing 15% stocks dividends for the shareholders for the year 2020. It also recommended raising the subscribed capital to $20.00 million. On another hand, the BOD also proposed distributing 22.5% cash dividends for the year 2020, to record dividends yield of 5.03% based on the current market price. In the same context, the BOD of Global United Insurance Company GUI raised a recommendation to the GA, which will be holding ordinary and extraordinary meetings on 23/03/2021; to raise the paid-up capital from $10.56 million to $11.09 million through distributing 5% stocks dividends for the year 2020. It also recommended distributing 12.50% cash dividends for the year 2020, to record dividends yield of 5.43% based on the current market price.


 

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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