send to a friend by email

Al-Quds Index increases amid growing in the dividends proposals momentum for 2023

2024-04-18

 Sahem weekly trading report (14-18)-04-2024

In this week that followed Eid Al-Fiter Holiday, Al-Quds Index recorded an increase of 0.79% than the previous week, to record 548.28 points after trading in a relatively narrow range. While the trading on Palestine Stock Exchange PEX was conservative amid an increase in the momentum of raising the recommendations regarding distributing dividends for the shareholder for the year 2023. On another hand, the PEX entered Q1 financial data disclosures for the year 2024, to add for the investors’ anticipation another degree of accuracy and caution.

Regarding raising the recommendations to distribute dividends for the shareholders for the year 2023, the board of directors of Nablus Surgical Center NSC recommended to the general assembly, which will be holding a meeting on 09/05/2024, distributing 7% stocks dividends for the year 2023, to raise the paid-up capital from JD3.18 million to JD3.40 million. Also, the board of directors of Tamkeen Insurance Company TPIC proposed to the general assembly, which will be holding a meeting on 06/05/2024, distributing 5% stocks dividends for the year 2023, to raise the paid-up capital from $12.48 million to $13.10 million. In addition, the board of directors of Palestine Investment Bank PIBC recommended to the general assembly, which will be holding a meeting on 25/04/2024, distributing 2.5641% stocks dividends for the year 2023, to raise the paid-up capital from $78.00 million to $80.00 million. Moreover, the board of directors of the National Carton Industry Company NCI raised a recommendation to the general assembly, which will be holding a meeting on 23/05/2024, to distribute 12% cash dividends for the year 2023.

On the other hand and regarding approving the dividends distribution for the year 2023, the general assembly of Al-Wataniah Abraj Company ABRAJ held a meeting on18/04/2024, whereby, discussed the recommendation of the board of directors to convert the company from public shareholding company to private shareholding company. Furthermore, the general assembly of the National Insurance Company NIC approved in its meeting on 18/04/2024, distributing 7.246% stocks dividends for the year 2023, to raise the paid-up capital from $17.25 million to $18.50 million. Also, it also approved distributing 5% cash dividends for the year 2023, to record dividends yield of 1.51% based on the price on the entitlement date.