Palestine Weekly Trading Report - 22 to 26 April

Transcription

1. Weekly Trading Report [22-26/04] 2018 “Al Quds Index closes at the level of 545.87 points” Dividends distribution momentum for the year 2017 and acceleration in the quarterly disclosures In this week, some of the leading stocks closed in the green zone, while, others closed in the red zone with varying gains and losses. However, the leading stocks with heaviest weights in Al-Quds Index that approved dividends distribution for the year 2017 are still trading in lower prices than their equivalent prices, leading Al-Quds Index to close at the level of 545.87 points; down by 0.82% than its previous weekly closing level. In another context, executing several institutional transaction that exceed 460 thousands shares on the stocks of the largest company in Palestine Stock Exchange PEX in terms of market capitalization- Palestine Telecommunications PALTEL- and transactions on the stock of Al-Quds Bank QUDS, raised the trading value of the PEX this week. On another hand, the first quarter disclosures blend with the dividends distribution decisions for the previous year; adding to the investors’ anticipation another degree of caution and accuracy. Regarding the significant news that vary between dividends distribution approvals and quarterly financial data disclosures, the general assembly GA of the Vegetable Oil Industries Company VOIC approved, in its meeting on 24/04/2018, distributing 60% cash dividends for the year 2017, to record dividends yield of 4.14% based on the price on the entitlement and payout ratio of 35.13% based on the EPS of 2017. On the other hand, VOIC disclosed its financial data for Q1 2018, noting posing net income of JD1.76 million in the first three months of the year 2018; up by 64.13% than the corresponding period of 2017, to record book value BV of JD8.86 and P/BV of 1.62x. However, in the banking and financial services sector, the GA of the National Bank TNB approved, in its meeting on 24/04/2018, distributing 5% cash dividends to its shareholders, to record dividends yield of 2.75% based on the price on the entitlement date and payout ratio of 40.65% based on the EPS of 2017. In another context, the National Bank TNB disclosed posting net income attributable to the shareholders of the bank of $3.20 million in Q1 2018; up by 15.39% than the corresponding period of 2017, to record BV of $2.60 and P/BV of 0.69x. However in the same sector, the GA of Palestine Investment Bank PIBC approved, in its meeting on 24/04/2018, raising the paid-up capital from $71.70 million to $75.00 million through distributing 4.60% stocks dividends for the year 2017. In the same context, some listed companies held their general assembly GA meetings on 25/04/2018 and approved distributing either cash dividends or both cash and stocks dividends for the year 2017. Regarding these companies, the GA of Palestine Industrial Investment Company PIIC – the investment arm of Palestine Development and Investment Company PADICO in the agricultural and industrial sectors – approved distributing 10% cash dividends to its shareholders, to record 3.77% dividends yield based on the price on the entitlement date and 39.53% based on the EPS of 2017. On the other hand, PIIC disclosed recording net income attributable to the shareholders of the parent company of JD1.33 million in Q1 2018, compared to JD1.38 million in Q1 2017, to record BV of JD2.29 and P/BV of 1.16x. Also, the GA of Palestine Poultry Company AZIZA – a subsidiary of PIIC - approved distributing 15% cash dividends to its shareholders, to record 5.68% dividends yield based on the price on the entitlement date and 63.29% payout ratio based on the EPS of 2017. In addition, the GA of Beit Jala Pharmaceutical BJP approved distributing 15% cash dividends to its shareholders, to record 6.25% dividends yield based on the price on the entitlement date and 63.83% based on the EPS of 2017. On the other hand, the GA of Birzeit Pharmaceutical Company BPC approved raising the paid up capital from $18.50 million to $19.00 million through distributing 2.70% stocks dividends to its shareholders. The GA also approved distributing 20% cash dividends for the year 2017, to record 3.92% dividends yield based on the price on the entitlement date and 36.30% based on the EPS of 2017. Also, the GA of Sanad Construction Resources SANAD approved raising the paid up capital from $66.00 million to $69.30 million through distributing 5% stocks dividends to its shareholders. It also approved distributing 5% cash dividends for the year 2017, to record 1.87% dividends yield based on the price on the entitlement date and 35.71% based on the EPS of 2017.
2. Weekly Report Market Indices & Top Gainers Index/ PEX Opening Closing Change 550.4 545.87 -0.82% 160.56 159.76 Industry 100.31 Insurance Investment Services Al Quds Symbol Opening Closing Change NCI 0.84 0.88 4.76% -0.50% JPH 3.30 3.40 3.03% 100.93 0.62% SANAD 2.62 2.68 2.29% 75.32 74.34 -1.30% PRICO 0.46 0.47 2.17% 29.74 29.64 -0.34% BPC 5.10 5.15 0.98% 40.98 40.64 -0.83% APIC 2.25 2.27 0.89% Banking & Financial Services Summary of the Week Performance Item Current Week Last Week Change Daily Average Ratio of this Week Daily average of Change Ratio 2016 # of Shares 2,014,171 1,560,553 29.07% 402,834 1,115,900 -63.90% Value in USD 6,527,561 2,843,275 129.58% 1,305,512 1,930,330 -32.37% Most Active Companies This Week # of Traded Total value Shares (USD) PALTEL 676,331 QUDS APIC Company Name 52 Weeks Price Open Price Close Price % Change 4,053,435 4.23 4.26 321,303 635,316 2.02 223,390 504,659 2.25 JPH 80,662 269,887 PEC 190,162 BOP High Low 0.71% 4.85 4.21 2.00 -0.99% 2.40 1.32 2.27 0.89% 2.30 1.62 3.30 3.40 3.03% 3.70 1.72 230,252 1.26 1.22 -3.17% 1.44 1.05 77,336 195,060 2.54 2.53 -0.39% 2.67 2.40 ISBK 72,615 145,283 2.01 1.99 -1.00% 2.34 1.97 TNB 65,040 117,113 1.80 1.80 0.00% 2.00 1.63 WATANIYA 92,015 88,843 1.00 0.95 -5.00% 1.37 0.85 NIC 21,463 70,917 3.31 3.30 -0.30% 4.85 2.90 A registered member at PEX, regulated by PCMA Tel 02-2965710 / Fax: 02-2965713 / P.O. Box: Ramallah (2187) E-mail: Research@Sahem-inv.com