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The start of the annual disclosures and proposals for the dividends distribution

2022-02-10

 Sahem Weekly Trading Report (06-10)-02-2022

In this week, Al-Quds Index closed at the level of 614.68 points; down by 0.08% than its previous weekly closing level amid relative quietness that dominated investors and lack in the institutional transactions momentum than may raise the total trading value from time to time. Regarding the liquidity levels, it was slow with the increase in the anticipation intensity coinciding with the approaching end of the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their preliminary financial data disclosures, and the start of the dividends distribution proposals for the year 2021.

Regarding the annual financial data disclosures for the end of 2021, the Arab Company for Paints Products APC was the first to disclose its data. Whereby, it noted posting net income of JD1.01 million at the end of 2021, compared to net income of JD0.78 million at the end of 2020. This mainly came from an increase in the company’s sales by 13.71% between the two periods. Based on the disclosed figures, APC records book value BV of JD3.81 and P/BV of 1.68x. In the same context, the Vegetable Oil Industries Company VOIC disclosed posting net income of JD12.53 million at the end of 2021 compared to net income of JD6.20 million at the end of 2020. This mainly resulted from an increase in the company’s sales by 25.52% and VOIC’s stake from its affiliates profits by 104.33%. Based in the disclosed figures, VOIC records BV of JD14.37 and P/BV of 1.22x.  

Regarding the dividends distribution proposals for the year 2021, the board of directors of Trust International Insurance Company TRUST proposed to the general assembly, which will be holding a meeting on 31/03/2022, distributing 10% cash dividends for the year 2021, to record dividends yield of 3.17% based on the current market price. Also, in the insurance sector, the board of directors of Global United Insurance Company GUI proposed to the general assembly distributing 10% cash dividends for the year 2021, to record dividends yield of 3.86% based on the current market price. In the same context, the board of directors of Palestine Telecommunications PALTEL raised a recommendation to the general assembly, which will be holding a meeting on 22/03/2022, to distribute 40% cash dividends for the year 2021, to record dividends yields of 6.80% based on the current market price. Also, the board of directors of the Arab Company for Paints Products APC proposed to the general assembly, which will be holding a meeting on 07/03/2022, distributing 70% cash dividends for the year 2021, to record dividends yield of 10.94% based on the current market price.