 send to a friend by email
2025-03-20
Sahem weekly trading report (16-20)-03-2025
With the approaching end of the first quarter of the year 2025, the listed companies continued to raise their recommendations regarding distributing dividends for the shareholders for the year 2024. In this week, the board of directors of Jerusalem Pharmaceuticals recommended to the general assembly, which will be holding a meeting on 29/04/2025, distributing 8% cash dividends for the year 2024. While Al-Quds Index traded in a relatively narrow range, closing in the red zone. However, in the coming weeks and with the continued approval of dividends’ distribution, the stocks that distribute dividends will witness an automatic decline in price in the days that follow the distribution decision date by a percentage that approximates its dividends yield in order to meet the equivalent price. This scientifically is attributed to the fact that the stock price that holds the cash dividends prior to the general assembly meeting date is not equivalent to the price that doesn’t hold these dividends after the entitlement. On the other hand, the companies in the banking sector disclosed their financial and operational data for the year 2024.
Regarding the banking sector financial and operational data disclosures for the year 2024, Bank of Palestine BOP disclosed realizing net loss attributable to the shareholders of the parent company of $28.90 million in 2024 compared to net income attributable to the shareholders of the parent company of $13.11 million in 2023. This mainly resulted from an increase in the expected credit loss provisions from $135.71 million in 2023 to $226.51 million in 2024. Based on the disclosed figures, BOP records book value BV of $1.94. Also, the National Bank TNB disclosed posting net income of $1.03 million in 2024 compared to net income of $14.40 million in 2023. This mainly resulted from an increase in the expected credit loss provisions from $6.26 million in 2023 to $14.53 million in 2024. Based on the disclosed figures, TNB records BV of $1.53.
In the same context, Palestine Islamic Bank ISBK disclosed posting net income of $1.01 million in 2024 compared to $4.85 million in 2023. This mainly resulted from a decline in gross revenues by 6.61% between the two years. Based on the disclosed figures. ISBK records BV of $1.48. Also Al-Quds Bank QUDS disclosed posting net income attributable to the parent company of $9.79 million in 2024, compared to $8.96 million in 2023. This mainly came due to the decline in the bank’s expenses, especially tax expenses declined from $4.49 million in 2023 to $0.09 million in 2024. Based on the disclosed figures, QUDS records BV of $1.57.
|
|
-trade
