Dividends for 2019 Reached USD 160 million 5.70% Dividend Yield in 2019 at Palestine Exchange

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Dividends for 2019 Reached USD 160 million 5.70% Dividend Yield in 2019 at Palestine Exchange

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.

 

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