Ahmad Aweidah, CEO of the Palestine Exchange (PEX), announced that the amount of dividends distributed by listed companies on the PEX was about USD 160 million for the year 2019, a decline of 15% compared to 2018.
A review of PEX profit making listed companies shows that, 48% managed to distribute dividends, a decrease of 15% compared to 2018. Cash dividends amounted USD 140.40 million, a decline of 7% compared to 2018, while stock dividends amounted USD 19.63 million, a decline of 46% compared to last year.
Aweidah said that PEX dividend yield for the year 2019 recorded 5.70%, an excellent rate compared to the banking sector interest rate. He added that “Despite the 2019 challenges and C0ovid-19 repercussions during 2020, many listed companies proved their resilience by being able to maintain a steady level of dividends, reflecting a stable performance and an increase in investors’ confidence”.
It worth mentioning that due to Covid-19 most of the 2019 General Assemblies convened on-line to maintain social distancing and general safety standards.