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Al-Quds Index trades in a reverse direction amid the continuous dividends distribution proposals

2018-03-07

Sahem Weekly Trading Report (04-07)-03-2018                      

Al-Quds Index traded in a reverse direction this week, with four trading sessions, than the previous week, to decline by 0.28% and record 587.59 points following a weakness in trading on the stocks of blue-chips with the highest weights in the Index, whereby, some closed downward and some closed with slight increase, while, others stabilized compared to the previous weekly closing levels. On the other hand, the liquidity and its indicators’ levels are still scarce if we exclude the institutional transactions, which witnessed a momentum on the stocks of the banking and financial services sector; whereby two transactions were executed in the this week on the stocks of Al-Quds Bank QUDS of 0.73 million shares and a transaction on the stocks of Palestine Islamic Bank ISBK of 0.50 million shares was also executed. In another context, the dividends distribution announcements pace for the year 2017 continued in the period that follows the annual financial data disclosures of the listed companies. Within the dividends distribution strategy, 16 companies raised their recommendations till this moment regarding distributing dividends for the year 2017, whereby, 10 companies proposed distributing cash dividends, 5 companies recommended distributing both cash dividends and stocks dividends, while, only one company has approved distributing cash dividends until now.

Regarding the dividends distribution approvals for the year 2017, the general assembly GA of the Arab Company for Paint Products APC approved distributing 50% cash dividends for the year 2017, to be the first company in the Industry sector to approve its proposed cash dividends. This came during its GA meeting on 05/03/2018. Based on the approved percentage, APC records dividends yield of 7.58% based on the price on the entitlement date and payout ratio of 62.34% based on the EPS of 2017. On the other hand and in the market, APC closed at the level of JD6.60 without any change than its previous weekly closing level, while, traded above its equivalent price. In the same context and based on the company’s announcement, APC will start to distribute the approved dividends beginning from Sunday 10/03/2018. However and regarding the dividends distribution recommendations, the board of directors BOD of Palestine Securities Exchange Company PSE raised a recommendation to the GA, which will be holding a meeting on 17/04/2018, to distribute 6% cash dividends for the year 2017, to record dividends yield of 1.21% based on the current market price.

Regarding this week’s trading, Al-Quds Bank QUDS topped Palestine Stock Exchange PEX in terms of trading value when its transactions contributed for 31.04% from total trading value in the PEX this week. This followed executing two transactions on its shares. Moreover, the stock of Palestine Islamic Bank ISBK followed when its transactions contributed for 24.65% from total trading value in the PEX due to executing a transaction on its shares in the week. However, the stock of the National Insurance Company NIC followed when its transactions constituted for 13.39% from total trading value of the PEX. At last came the leading stock of the Arab Palestinian Investment Company APIC when its transactions contributed for 8.57% from total trading value in the PEX this week.


 

2024-03-28
Weak trading with the approaching end of Q1 2024

2024-03-26
APIC recommends distributing 6.838% stocks dividends for the year 2023

2024-03-21
Al-Quds Index continues to decline amid lack of general liquidity

2024-03-18
AQARIYA records net income of $0.83 million in 2023

2024-03-18
AHC realizes net loss of JD1.67 million in 2023

2024-03-18
JCC posts net income of JD1.77 million in 2023

2024-03-18
GMC posts net income of JD0.003 million in 2023

2024-03-18
SANAD realizes net loss of $5.03 million in 2023

2024-03-18
ISBK posts net income of $4.85 million in 2023

2024-03-18
JREI realizes net loss of $0.10 million in 2023

2024-03-17
NAPCO realizes net loss of JD1.68 million in 2023

2024-03-17
APIC posts net income of $19.05 million in 2023

2024-03-17
SAFABANK realizes net loss of $0.88 million in 2023

2024-03-17
QUDS posts net income of $9.18 million in 2023

2024-03-17
NSC posts net income of JD0.80 million in 2023

2024-03-17
PIBC posts net income of $5.07 million in 2023

2024-03-17
AIB posts net income of $5.52 million in 2023

2024-03-17
ARAB posts net income of JD0.69 million in 2023

2024-03-17
ABRAJ posts net income of $1.02 million in 2023

2024-03-17
TNB posts net income of $14.40 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-14
Al-Quds Index in the red zone in Ramadan

2024-03-14
BJP posts net income of JD1.84 million in 2023

2024-03-13
RSR posts net income of JD0.33 million in 2023

2024-03-13
PID realizes net loss of JD0.08 million in 2023

2024-03-10
BPC recommends distributing 7% cash dividends for the year 2023

2024-03-10
AMLAK posts net income of $0.07 million in 2023

2024-03-07
Weak trading amid a continuation in the annual data disclosures for 2023

2024-03-05
WASSEL posts net income of $0.54 million in 2023

2024-03-05
PRICO realizes net loss of JD12.10 million in 2023

2024-03-05
UCI posts net income of $1.01 million in 2023

2024-03-03
TIC recommends distributing 15% cash dividends for the year 2023

2024-03-03
ARKAAN realizes net loss of $9.99 million in 2023

2024-03-03
PADICO realizes net loss of $19.34 million in 2023

 

 

 
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