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2019-03-14
Sahem Weekly Trading Report (10-14)-03-2019
Al-Quds Index traded in a relatively narrow range this week, to cohere positively and increase by 0.05% than its previous weekly closing level; breaking the 545 points level and rebounding from it in the last trading session of the week, to close at the level of 544.86 points. While Palestine Stock Exchange PEX witnessed medium-volume transactions following varying in the percentage change rates of the leading stocks with the heaviest weights in the Index, where some stabilized and other increased. Despite the lack in general incentives, the financial returns expectations that will be achieved with the increase in the companies’ dividends distribution proposals started to draw a clearer image in the investors’ minds. While, the capital gains – despite the speculative movements from time to time- are still focused on due to the exceptional conditions of the Palestinian economic and investment environments which are ruled by political causes that may result in fated developments in general. In another context, this week witnessed a momentum in the dividends distribution proposals for the year 2018, especially in the Industry sector. While with the end of the first quarter of the year 2019, the coming period will witness new anticipation with the start of listed companies to disclose their quarterly financial and operational results for that could appear as new liquidity activity.
In this week, the listed companies in the industry sector witnessed dividends distribution announcements momentum. Whereby, the board of directors BOD of Beit Jala Pharmaceutical BJP proposed to the general assembly GA, which will be holding a meeting on 18/04/2019, distributing 15% cash dividends for the year 2018, to record dividends yield of 6.25% based on the current market price, and payout ratio of 136.36% based on the EPS of the year 2018. Moreover, the BOD of Palestine Poultry Company AZIZA raised a recommendation to the GA, to distribute 10% cash dividends for the year 2018, to record dividends yield of 3.85% based on the current market price, and payout ratio of 158.73% based on the EPS of the year 2018. In the same context, the BOD of Al-Shark Electrode Company ELECTRODE raised a recommendation to the GA to distribute 12% cash dividends for the year 2018, to record dividends yield of 6.00% based on the current market price, and payout ratio of 95.24% based on the EPS of the year 2018. However, in the banking and financial services sector, the BOD of Palestine Islamic Bank ISBK raised a recommendation to the GA, which will be holding a meeting on 17/04/2019, to raise the paid-up capital from $74.00 million to $77.00 million through distributing 4.05% stocks dividends for the year 2018 from capitalizing $3.00 million of the retained earnings. Also, it recommended distributing 8.50% cash dividends for the shareholders for the year 2018, to record dividends yield of 4.31% based on the current market price, and payout ratio of 41.67% based on the EPS of the year 2018.
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