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2014-07-23
Ahmad Aweidah, CEO of the Palestine Exchange (PEX), announced that the amount of cash dividends distributed by listed companies on the PEX was USD 148,464,041 for the year 2013, a growth of 17% compared to 2012. Whereby, Palestine Telecommunications (PALTEL) was ranked first with cash dividend of USD 92,955,508 followed by Palestine Development & Investment Company (PADICO) which distributed USD 15,000,000. Bank of Palestine (BOP) was third with a dividend of USD 12,500,000 and fourth was Palestine Industrial Investment Company (PIIC) which distributed USD 3,177,966 million. Ahmad Aweidah said: "Dividends yield in 2013 was 5.94%. This corresponds to the outstanding performance of many PEX listed companies; (22) out of (49) companies with 2.5 billion market cap. distributed cash dividends for 2013. Even though 2013 was full of challenges in Palestine on all levels, listed companies proved their resilience and achieved exceptional profits." Aweidah hoped that this performance will have a positive impact on trading volumes and market liquidity. The Palestine Exchange is one of the most rewarding exchanges in the region with the highest dividend yield; it averaged around 6.34% for the past 5 years.
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