Company Lookup
عربي
 
 

Market News

This Month News

This Month News

send to a friend by email

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).


 

2024-06-13
AIB posts net income of $2.47 million in Q1 2024

2024-06-13
Scarce trading and the listed companies continues to disclose their Q1 2024 data

2024-06-13
AQARIYA realizes net loss of $0.22 million in Q1 2024

2024-06-13
RSR posts net income of JD0.05 million in Q1 2024

2024-06-13
GUI posts net income of $0.41 million in Q1 2024

2024-06-13
AMLAK posts net income of $0.03 million in Q1 2024

2024-06-13
JPH posts net income of $0.30 million in Q1 2024

2024-06-13
MIC posts net income of $0.25 million in Q1 2024

2024-06-13
TRUST posts net income of $0.63 million in Q1 2024

2024-06-12
APC posts net income of JD0.06 million in Q1 2024

2024-06-12
BPC realizes net loss of $1.47 million in Q1 2024

2024-06-12
AIG posts net income of $0.34 million in Q1 2024

2024-06-10
ARAB posts net income of JD0.03 million in Q1 2024

2024-06-09
UCI realizes net loss of $0.05 million in Q1 2024

2024-06-06
Al-Quds Index in the green zone in the first week of June

2024-06-05
VOIC posts net income of JD1.49 million in Q1 2024

2024-06-04
NAPCO realizes net loss of JD0.61 million in Q1 2024

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013
PHP Notice: Undefined index: archive in C:\Inetpub\wwwroot\sahem\menu.php on line 403