Iraq’s stock market activity trends continue to show steady momentum in dividend. Announcements, rights issues, and trading actions as companies implement shareholder-focused strategies for the fiscal year.
Moreover, Baghdad Soft Drinks (IBSD) invited shareholders to collect IQD0.36 per share as a cash dividend for 2024. This payout equals a 7.5% dividend yield, approved during the latest annual meeting.
In addition, National Bank of Iraq (BNOI) began distributing IQD0.20 per share in cash dividends starting July 13. Shareholders can claim dividends three days a week—Sunday, Tuesday, and Thursday—based on branch instructions. The dividend yield stands at 4.9%, approved in the March AGM.
Furthermore, Al Taif Islamic Bank (BTIB) recently closed its 20.0% rights issue aimed at increasing capital from IQD250 bn to IQD300 bn. Subscription occurred for only 5.1 billion shares, raising paid-in capital to IQD255.1 bn instead.
Therefore, Al-Khazer for Construction Materials (IKHC) finalized legal procedures to double its capital through a 100% rights issue. Raising its capital to IQD2.0 bn.
The Iraq Stock Exchange (ISX) suspended trading for the second issuance of Enjaz bonds on July 17 due to the distribution of semi-annual interest.
Several companies resumed trading following annual general meetings:
- Dar Al-Salam for Insurance (NDSA) resumed on July 14 after approving IQD0.05 dividend per share, yielding 7.7%.
- Credit Bank of Iraq (BROI) resumed on July 15 after approving financials and raising capital from IQD319.87 bn to IQD400.0 bn via rights and bonus issues.
- National Bank of Iraq (BNOI) resumed trading on July 17 with 30% bonus shares, raising capital to IQD520.0 bn.
- Commercial Islamic Bank of Iraq (BCOI) resumed with a 12% bonus issue, increasing capital to IQD327.6 bn.
- Al Masherq Al-Arabi Islamic Bank (BAMS) will resume trading on July 20 after a 17.4% bonus issue, boosting capital to IQD293.5 bn.
Several stocks face temporary suspension ahead of AGMs:
- Mamoura Real-estate Investment (SMRI) – suspended July 16; AGM scheduled July 21 to review 2024 performance and approve a 30% rights issue.
- Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) – suspended July 17; AGM on July 22.
- AL-Nukhba for General Construction (SNUC) – suspended July 17; AGM on July 22.
- Ready Made Clothes (IRMC) – suspension starts July 28 for the July 31 AGM.
- Ashour Hotel (HASH) – trading will pause on August 5; AGM takes place August 9.
- Al-Ataa Islamic Bank (BLAD) – trading will pause August 27; AGM scheduled for September 1.
In conclusion, These activities reflect Iraq’s stock market activity trends, showing increased transparency, capital growth, and investor returns. Dividend payments and capital raises continue to support shareholder confidence and encourage broader participation.