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The general assembly for "Bank of Palestine" approves distributing %29.38 as stock dividends

2008-04-26

The general manager of BOP Mr.Hashem Al-Shawa had notified the general assembly that had been held in Ramallah and Gaza yesterday, the Bank"s profits for the first quarter of the current year registered a remarkable increase versus the same period of 2007. Al-Sahwa said that these results are better from last year and will be disclosed during the week, noting that the net for the first quarter for 2007 was $4.17 million. On the other side, Al-Shawa said that there are a number of strategic investors in addition to investment portfolios had started to target the share in the PSE market. Also the general assembly approved the board of directors" recommendation to distribute approximately $17.56 million that represents %28.38 from the paid in capital as stock dividends to the registered shareholders in PSE registry as of 24 April 2008. The assembly convened it meeting with the presence of representatives of PMA, PSE and CMA in addition to the companies" inspector and the external auditor for the bank.