United Electronics Company (eXtra) said it approved on Tuesday a 20 percent capital raise from SAR 300 million to SAR 360 million through the issuance of one bonus share for every five shares.
With the goal of financing its expansion plans, the company also decided to withhold a cash dividend for fourth quarter 2014.
According to data available on Argaam, eXtra distributed a 30 percent cash dividend for the first nine months of 2014.
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Capital Raise Details |
|
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SAR 300 mln |
Current capital |
|
30 mln shares |
Number of shares |
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20% ( one share for every 5 shares) |
Capital raise percentage |
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SAR 360 mln |
New capital |
|
36 mln shares |
Number of Shares after raise |
|
April 27, 2015 |
Record date |
|
Cash Dividend Details |
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|
SAR 90 mln |
Cash dividend |
|
30% ( SAR 3/share) |
Percent of capital |