Saudi eXtra proposes 20% capital raise, dividends for H2 2019

Total dividends amounted to $16.66mln


Riyadh –  The board of directors of the United Electronics Company (eXtra) decided to distribute cash dividends of SAR 1.25 per share for the second half of 2019.

Dividends will be distributed among shareholders owning shares as of 15 March and those registered until the end of the second trading session following the eligibility date, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Total dividends amounted to SAR 62.5 million and will be distributed over 50 million shares.

In a separate statement, eXtra announced that the board recommended increasing the company’s capital by 20% to SAR 600 million from SAR 500 million through the issuance of one bonus share for every five shares held.

The eligibility for bonus shares will be for registered shareholders until the end of the second trading day following the date of the extraordinary general meeting (EGM) that will approve the capital raise.

It is noteworthy to mention that in July 2019, the company’s shareholders proposed a cash dividend distribution of SAR 1 per share for the first half of 2019.

Source: Mubasher

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