Ahmad Aweidah, CEO of the Palestine Exchange (PEX), announced that the amount of dividends distributed by companies listed on the PEX was USD 139,886,741 for the year 2011 in cash and stock dividends; amounting to USD 118,198,606 and USD 21,688,134 respectively.
Palestine Telecommunications (PALTEL) ranked first with a dividend distribution of JD 52,650,000 followed by Bank of Palestine (BOP) with dividend distribution of USD 23 million, 9 millions as a cash dividend and 14 millions as stocks. Palestine Development & Investment Company (PADICO) came third with a distribution of USD 15 million as cash dividend.
Aweidah indicated that 2011 was a very good year in terms of dividend distribution. “This corresponds to the outstanding performance of many PEX listed companies, (35) out of (47) companies were profitable in 2011”. Aweidah stated.
“The PEX is one of the most rewarding exchanges in the region with the highest dividend yield that was 6.97% in 2011, and averaged 6.14% over the past 5 year”. Aweidah affirmed.
