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

2025-05-08

 Sahem weekly trading report (04-08)-05-2025

In the first week of May, Al-Quds Index traded in a relatively wide range, closing in the red zone coinciding with the dividends entitlement of the stock of the largest company in Palestine Stock Exchange PEX by market capitalization, and the start of the routine price declining wave in order to balance the prices after the dividends’ distribution. With the increase in the wave of holding the general assembly meetings for the listed companies and the start of Q1 2025 financial data disclosures, the state of lack of liquidity that has dominated the trading in the PEX for a while continued, whereby, the ordinary trading value barely records medium-volume levels. However, with the price routine cycles of the leading stocks prior and after the dividends’ distribution, the main reason for the price movements in the PEX, in general, appear.

However, the listed companies continued to approve dividends distribution for the shareholders for the year 2024. Regarding the blue-chips, the general assembly of the largest company in the PEX in terms of market capitalizations -Palestine Telecommunications PALTEL- approved, in its meeting on 06/05/2025, distributing 30% cash dividends for the year 2024, to record dividends yield of 7.21% based on the price on the entitlement date. Also, the general assembly of the Arab Palestinian Investment Company APIC approved, in its meeting on 05/05/2025, distributing 3.226% stocks dividends for the year 2024, to raise the paid-up capital from $155.00 million to $160.00 million.

Regarding the dividends distribution approvals for the other companies, the general assembly of the Golden Wheat Mills Company GMC approved, in its meeting on 07/05/2025, distributing 5% cash dividends for the year 2024, to record dividends yield of 6.85% based on the price on the entitlement date. On the other hand, the general assembly of Beit-Jala Pharmaceuticals Company BJP approved, in its meeting on 30/04/2025, distributing 12% cash dividends for the year 2024, to record dividends yield of 4.29% based on the price on the entitlement date. In the banking and financial services, the general assembly of Al-Quds Bank QUDS approved, in its meeting on 30/04/2025, distributing 8% cash dividends for the year 2024, to record dividends yield of 6.15% based on the price on the entitlement date . It also approved distributing 5% stocks dividends for the year 2024, to raise the     paid-up capital from $105.00 million to $110.25 million. While in the insurance sector, the general assembly of Tamkeen Insurance Company TPIC approved, it its meeting on 29/04/2025, distributing 4% cash dividends for the year 2024, to record dividends yield of 1.83% based on the price on the entitlement date. It also approved distributing 3% stocks dividends for the year 2024, to raise the paid-up capital from $13.10 million to $13.50 million.