Cash dividends for 2013 exceeded $148 million.
Ahmad Aweidah, CEO of the Palestine Exchange (PEX), announced that the amount of cash dividends distributed by listed companies on the PEX was $148,464,041 for the year 2013, a growth of 17 per cent compared to 2012.
Palestine Telecommunications (PALTEL) ranked first with cash dividend of $92,955,508 followed by Palestine Development & Investment Company (PADICO) which distributed $15,000,000. Bank of Palestine (BOP) was third with a dividend of $12,500,000 and fourth was Palestine Industrial Investment Company (PIIC) which distributed $3,177,966 million.
Ahmad Aweidah added: "Dividends yield in 2013 was 5.94 per cent. This corresponds to the outstanding performance of many PEX listed companies; (22) out of (49) companies with 2.5 billion market cap distributed cash dividends for 2013. Even though 2013 was full of challenges in Palestine on all levels, listed companies proved their resilience and achieved exceptional profits."