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Dividends yield records 6% in the PEX

2016-05-26

Sahem Weekly Trading Report [22-26/05/ [2016

With the approaching end of May 2016 and the receding in the wave of holding the general assembly meetings for the listed companies, the dividends yield was formed at the ultimate.  According to the approved dividends distribution, the cash dividends amount reached $154.28 million for the year 2015, to record total dividends yield of 5.98%, while the total approved stocks dividends reached 24.54 million shares worth $25.22 million. Whereas the total approved dividends (cash and stocks) stood at $179.50 million by the end of May 2016. Accordingly, Palestine Stock Exchange PEX has entered a decreasing in prices phase for the companies that approved dividends to reach price balancing. While the major reason for the declining in Al-Quds Index, and its trading around the most declining stocks with the heaviest weights- the leading stocks. On the other hand, this week witnessed a form of balancing and cohesion in the market within the usual liquidity levels, in parallel to the start of disappearing in the selling offers in their price depths.

Within this week, news about the banking sector accelerated. A draft of the final agreement for the merger of Palestine Commercial Bank PCB and Bank of Palestine BOP was signed, whereas, the merger will be through allocating every three shares in PCB equivalent to one share in BOP. In this context, PCB has announced liquidating and paying the full value and interests of its issued bonds to the bonds shareholders each according to his contribution. Moreover, Palestine Investment Bank PIBC announced obtaining the necessary to build branches in the Kingdom of Bahrain.

Based on other news and within the expected Initial Public Offerings IPO, Islamic Bank Al-Safa announced offering its shares for IPO starting from 01/06/2016 till 23/06/2016 through Cairo- Amman Bank branches. According to the prospectus, the bank has several objectives including: developing the needs of the Palestinian economy to provide Shari’a compliance goods and services, providing banking services, financing and investment operating based on non-commission, in addition to attracting money and savings and directing them to the Shari’a compliance investment practices. The bank will offer 38.04 million shares worth $38.04 million with $1 par value that is paid fully by 100% when subscribed. The total subscribed shares will be used to cover the un-subscribed amount from the authorized $75 million shares in order to practice the Shari’a compliance banking operations. It is worth mentioning that the founders subscribed by around 49.27% from the authorized capital, majorly 34.67% by Cairo-Amman Bank and 8% by the Palestinian Banking Corporation.

 

 


 

2016-05-26
Dividends yield records 6% in the PEX

2016-05-22
APIC approves 5% cash dividends and 10% stocks dividends

2016-05-19
Al-Quds Index under the pressure of equivalent prices of blue-chips once again

2016-05-18
PADICO approves 5% cash dividends and issuing bonds worth $120 million

2016-05-17
Offering the shares of the Islamic Bank Al-Safa for IPO

2016-05-12
Al-Quds Index decreases below the 500 points level

2016-05-09
PRICO approves 5% cash dividends for the year 2015

2016-05-08
AZIZA approves distributing 15% cash dividends for the year 2015

2016-05-08
LADAEN decreases its capital by 90% to cover the accumulated losses

2016-05-08
BJP approves distributing 6% cash dividends and 30.80% stocks dividends for the year 2015

2016-05-08
PIIC approves 6% cash dividends for the year 2015

2016-05-04
JPH approves 8% cash dividends for the year 2015

2016-05-04
QUDS approves distributing 11% stocks dividends for the year 2015

2016-05-03
TRUST posts net income of $1.46 million in Q1 2016

2016-05-03
ABRAJ posts net income of $0.06 million in Q1 2016

2016-05-03
PRICO posts net income of JD0.31 million in Q1 2016

2016-05-03
NAPCO realizes net loss of JD0.18 million in Q1 2016

2016-05-03
AHC realizes net loss of JD0.42 million in Q1 2016

2016-05-03
TIC records net income of $0.54 million in Q1 2016

2016-05-03
PID realizes net loss of JD0.03 million in Q1 2016

2016-05-03
JPH realizes net loss of $0.40 million in Q1 2016

2016-05-03
PCB reports net income of $0.66 million in Q1 2016

2016-05-03
GUI reports net income of $0.36 million in Q1 2016

2016-05-03
PICO realizes net loss of $0.17 million in Q1 2016

2016-05-03
MIC records net income of $0.35 million in Q1 2016

2016-05-03
JCC records net income of JD0.06 million in Q1 2016

2016-05-03
PADICO posts net income of $7.09 million in Q1 2016

 

 

 
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