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Significant news momentum raises the trading value in the PEX

2021-04-29

 Sahem Weekly Trading Report (25-29)-04-2021

Al-Quds Index recorded a slight decrease of 0.15% than the previous week after trading in a relatively narrow range, closing at the level of 479.34 points. However, the stocks of the leading companies with heaviest weights and effects on Al-Quds Index, and which approved dividends distribution for the year 2020, traded with levels exceeding their equivalent prices after the distribution. And despite the routinely trading of the holy month Ramdan, the trading was active on the stocks of the largest company in Palestine Stock Exchange PEX in terms of market capitalization- Palestine Telecommunications PALTEL- and the leading stock of the Arab Palestinian Investment Company APIC, to raise the total trading value of the PEX significantly. On another hand, a momentum appeared in the significant news this week after approving the dividends distribution of five listed companies in different sectors. While with the end of April, the quarterly disclosures for the year 2021 will start, to add to the investors’ anticipation another degree of cautiousness and accuracy.

Regarding the companies that announced their dividends distribution strategies for the year 2020, the general assembly of Birzeit Pharmaceutical Company BPC approved it its ordinary and extraordinary meetings on 28/04/2021, raising the paid-up capital from $19.00 million to $19.38 million through distributing 2% stocks dividends for the shareholders for the year 2020. It also approved distributing 15% cash dividends for the year 2020, to record dividends yield of 2.73% based on the price on the entitlement date. Also, the general assembly of Al-Mashriq Insurance Company MIC approved in its meeting on 28/04/2021, raising the paid-up capital from $5.20 million to $5.50 million through distributing 5.77% stocks dividends for the year 2020. It also approved distributing 2.50% cash dividends for the year 2020, to record dividends yield of 0.83% based the price on the entitlement date. In addition, the general assembly of the Vegetable Oil Industries Company VOIC approved in its meeting on 28/04/2021, distributing 50% cash dividends for the year 2020, to record dividends yield of 5.27% based on the price on the entitlement date. Moreover, the general assembly of the National Carton Industry NCI approved in its meeting on 28/04/2021, distributing 10% cash dividends for the year 2020, to record dividends yield of 5.95% based on the price on the entitlement date. In the same context, the general assembly of the National Aluminum & Profile Company NAPCO approved in its meeting on 29/04/2021, raising the paid-up capital from JD7.31 million to JD8.00 million through distributing 9.38% stocks dividends for the year 2020.


 

2021-10-21
Al-Quds Index in a narrow range amid an increase in 9M financial data disclosures anticipation

2021-10-17
PHARMACARE recommends distributing 10% cash dividends for the year 2020

2021-10-14
A transaction on the stocks of TRSUT raises the trading value in the PEX

2021-10-07
Al-Quds Index rebounds upwards in the first week of October

 

 

 
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