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A momentum in the dividends distribution approvals with the approaching end of Q1 2021

2021-03-25

 Sahem Weekly Trading Report (21-25)-03-2021

With the approaching end of the first quarter of the year 2021, the transactions in Palestine Stock Exchange PEX continued within its recorded levels for a long period of time without any attractive change in the general or individual performance. While Al-Quds Index witnessed a decline of 1.29% than its previous weekly closing level after trading in a relatively wide range, to record 482.21 points. On another hand and with the increase in dividends’ proposals and approvals and the expectations of the returns’ achievement, which in return enhanced the reinforcement of the investment feasibility in the PEX, the calmness in the PEX may be justified with the decline in the general incentives which may charge some optimism for good liquidity activity. Regarding the investors’ behavior, it is mainly ruled by the variation in the financial expected return for the investment selected period, which in turn creates the price variation with its different levels in this period.

In the context of the listed companies general assemblies’ approvals to distribute dividends for the shareholders of the year 2020, the general assembly of Palestine Islamic Bank ISBK approved in its meeting on 23/03/2021, raising its paid-up capital from $80.00 million to $85.00 million through distributing 6.25% stocks dividends for the year 2020. Also, the general assembly of the Arab Company for Paints Products APC approved in its meeting on 22/03/2021, distributing 40% cash dividends for the year 2020, to record dividends yield of 6.67% based on the price on the entitlement date. In addition, the general assembly of Palestine Securities Exchange Company PSE approved in its meeting on 25/03/2021, distributing 4% cash dividends for the year 2020, to record dividends yield of 0.82% based on the price on the entitlement date. Also, the general assembly of Nablus Surgical Center NSC approved in its meeting on 25/03/2021, distributing 5% cash dividends for the year 2020, to record dividends yield of 2.35% based on the price on the entitlement date.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports decreased in January 2021 by 21% compared to December, 2020. While it increased by 20% compared to January, 2020 and reached $101.8 million. In addition, imports decreased in January, 2021 by 5% compared to December, 2020. While it increased by 4% compared to January, 2020 and reached $491.9 million. While the trade balance which represents the difference between exports and imports showed an increase in trade deficit by 1% in January, 2021 compared to December, 2020. It also slightly increased by 0.3% compared to January, 2020 and reached $390.1 million.


 

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