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Al-Quds Index above the 660 points level amid an increase in the dividends proposals

2023-03-16

 Sahem Weekly Trading Report (12-16)-03-2023

Al-Quds Index recorded gains of 0.66% than the previous week, after trading in a relatively narrow range, to stabilize above the 660 points level and close at 662.83 points. While Palestine Stock Exchange PEX witnessed medium-volume transactions amid an increase in the prices of blue-chips with heaviest weights in the Index and others. 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 2022. While with the end of the first quarter of the year 2023, 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.

On another hand, the listed companies continued to raise their recommendations regarding distributing dividends for the shareholders for the year 2022. In this context, the board of directors of the Arab Islamic Bank AIB recommended to the general assembly, which will be holding ordinary and extraordinary meetings on 28/03/2023, distributing 4.15% cash dividends for the year 2022. It also recommended distributing 5.09% stocks dividends for the year 2022, to raise the paid-up capital from $96.22 million to $101.12 million. In the same context, the board of directors of Palestine Islamic Bank ISBK proposed to the general assembly, which will be holding a meeting on 10/04/2023, distributing 5.56% cash dividends for the year 2022. It also proposed distributing 11.11% stocks dividends for the year 2022, to raise the paid-up capital from $90.00 million to $100.00 million. Also, the board of directors of the Vegetable Oil Industries Company VOIC raised a recommendation to the general assembly, which will be holding a meeting on 10/05/2023, to distribute 50% cash dividends for the year 2022. In addition, the board of directors of Beit Jala Pharmaceuticals BJP proposed to the general assembly, which will be holding a meeting in the second half of May 2023, distributing 10% cash dividends for the year 2022. However, regarding approving the dividends distribution for the year 2022, the general assembly of the Arab Company for Paints Products APC approved, in its meeting on 13/03/2023, distributing 20% cash dividends for the year 2022, to record dividends yield of 3.12% based on the price on the entitlement date. In addition, the general assembly of Union Construction & Investment Company UCI, approved in its meeting on 15/03/2023, distributing 3% cash dividends for the year 2022, to record dividends yield of 5.56% based on the price on the entitlement date.  

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during February 2023 recorded an increase by 0.90% compared with January 2023 (0.99% in the West Bank, 0.95% in Gaza Strip, and by 0.32% in Jerusalem). This increase in the CPI was tracked to the increase in the prices of the following expenditure sub groups compared with the previous month: fresh chicken by 11.84%, dried vegetables by 11.39%, eggs by 7.69%, fresh fruits by 3.57%, fresh vegetables by 3.21%, short grain rice by 1.43% and potatoes by 1.35%. And if we compare the prices in February 2023 with February 2022, the Palestinian CPI during February 2023 increased by 4.03% compared with February 2022 (4.71% in the West Bank, 4.05% in Jerusalem, and by 1.87% in Gaza Strip).


 

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VOIC posts net income of JD2.45 million in Q1 2025

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MIC posts net income of $0.21 million in Q1 2025

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JREI realizes net loss of $0.01 million in Q1 2025

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AQARIYA realizes net loss of $0.07 million in Q1 2025

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PIBC posts net income of $0.90 million in Q1 2025

2025-05-18
AIB posts net income of $1.75 million in Q1 2025

2025-05-18
GMC posts net income of JD0.27 million in Q1 2025

2025-05-18
AHC realizes net loss of JD0.55 million in Q1 2025

2025-05-18
ISH posts net income of $0.18 million in Q1 2025

2025-05-18
BOP posts net income of $19.64 million in Q1 2025

2025-05-18
ISBK posts net income of $1.39 million in Q1 2025

2025-05-18
QUDS posts net income of $3.89 million in Q1 2025

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TNB posts net income of $1.30 million in Q1 2025

2025-05-18
APIC realizes net loss of $1.34 million in Q1 2025

2025-05-15
Al-Quds Index breaks-through new physiological barrier with the end of Q1 disclosures period

2025-05-15
SAFABANK posts net income of $0.09 million in Q1 2025

2025-05-15
TPIC posts net income of $0.25 million in Q1 2025

2025-05-15
TRUST posts net income of $0.64 million in Q1 2025

2025-05-15
NAPCO approves raising the paid-up capital by 27.27%

2025-05-15
TIC posts net income of $0.30 million in Q1 2025

2025-05-15
JCC realizes net loss of JD0.01 million in Q1 2025

2025-05-15
BPC posts net income of $1.26 million in Q1 2025

2025-05-15
BJP posts net income of JD0.97 million in Q1 2025

2025-05-15
APC posts net income of JD0.04 million in Q1 2025

2025-05-15
JPH posts net income of $2.11 million in Q1 2025

2025-05-15
UCI realizes net loss of $0.07 million in Q1 2025

2025-05-15
PID realizes net loss of JD0.09 million in Q1 2025

2025-05-15
PICO posts net income of $0.27 million in Q1 2025

2025-05-15
PADICO posts net income of $6.24 million in Q1 2025

2025-05-14
PALTEL posts net income of JD7.89 million in Q1 2025

2025-05-14
WASSEL posts net income of $0.68 million in Q1 2025

2025-05-14
NIC posts net income of $0.46 million in Q1 2025

2025-05-14
PIIC posts net income of JD1.93 million in Q1 2025

2025-05-14
PRICO realizes net loss of JD0.02 million in Q1 2025

2025-05-13
AZIZA posts net income of JD0.99 million in Q1 2025

2025-05-13
LADAEN posts net income of JD0.02 million in Q1 2025

2025-05-13
AIG posts net income of $0.47 million in Q1 2025

2025-05-13
AMLAK posts net income of $0.02 million in Q1 2025

2025-05-13
GUI posts net income of $0.53 million in Q1 2025

2025-05-13
NCI posts net income of $0.29 million in Q1 2025

2025-05-13
PSE posts net income of $0.32 million in Q1 2025

2025-05-12
RSR posts net income of JD0.07 million in Q1 2025

2025-05-08
Al-Quds Index in the red zone with the start of May

2025-05-08
GMC approves distributing 5% cash dividends for the year 2024

2025-05-07
PALTEL approves distributing 30% cash dividends for the year 2024

2025-05-06
NAPCO realizes net loss of JD0.59 million in Q1 2025

2025-05-05
APIC approves distributing 3.226% stocks dividends for the year 2024

2025-05-04
BJP approves distributing 12% cash dividends for the year 2024

 

 

 
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