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Several transactions raise the trading value significantly

2022-03-03

 Sahem Weekly Trading Report (27-02)-(03-03)-2022

With the start of March, Al-Quds Index recorded a decrease of 0.23% than the previous weekly closing level after trading in a relatively narrow range, closing at 614.80 points. While Palestine Stock Exchange PEX witnessed executing several transactions on the leading stocks and others, to raise the total trading value to the relatively high level. Whereby, a transaction of 2.14 million shares was executed on the leading stock of the Arab Palestinian Investment Company APIC. Also, a transaction of 0.44 million shares was executed on the stocks of Bank of Palestine BOP. In the same context, a transaction of 0.76 million shares was executed on the stocks of Palestine Islamic Bank ISBK. Also, two transactions of 0.24 million shares were executed on the stocks of Palestine Telecommunications PALTEL and a transaction of 0.12 million shares was executed on the stocks of Jerusalem Cigarette Company JCC. On another hand, the PEX witnessed, in this week, a momentum in raising the recommendations to distribute dividends for the shareholders for 2021.

On another hand, the listed companies continued to raise their recommendation to distribute dividends for the shareholders for the year 2021. In this context, the board of directors BOD of Bank of Palestine BOP raised a recommendation to the general assembly GA, which will be holding a meeting on 27/03/2022, to raise the paid-up capital from $217.43 million to $223.96 million through distributing 3% stocks dividends for the shareholders. It also recommended distributing 9% cash dividends for the year 2021, to record dividends yield of 4.33% based on the current market price. Also, the BOD of the National Carton Industry NCI raised a recommendation to the GA to distribute 10% cash dividends for the year 2021, to record dividends yield of 4.90% based on the current market price. In the same Context, the BOD of the Vegetable Oil Industries Company VOIC raised a recommendation to the GA, which will be holding a meeting in the second half of April 2022, to distribute 50% cash dividends for the year 2021, to record dividends yield of 2.69% based on the current market price. In the same context, the BOD of Tamkeen Insurance Company TPIC raised a recommendation to the GA, which will be holding a meeting on 31/03/2022, to distribute 6% cash dividends for its shareholders for the year 2021, to record dividends yield of 2.61% based on the current market price. Also, the board of dire BOD of Al-Takaful Palestinian Insurance Company TIC raised a recommendation to the GA, which will be holding a meeting on 30/03/2022, to distribute 15% cash dividends for the year 2021, to record dividends yield of 5.77% based on the current market price. In addition, the BOD of Birzeit Pharmaceuticals Company BPC recommended to the GA, which will be holding a meeting in mid-April 2022, raising the paid-up capital from $20 million to $40 million through distributing one stock for each owned stock by shareholders, and distributing 10% cash dividends for the year 2021, to record dividends yield of 1.49% based on the current market price. In addition, the BOD of Palestine Insurance Company PICO raised a recommendation to the GA to distribute 23.50% cash dividends for the year 2021, to record dividends yield of 7.61% based on the current market price.