United Electronics Co.’s (eXtra) board of directors recommended, on Aug. 8, to increase capital by 33.33% to SAR 800 million from SAR 600 million, according to a bourse filing today, Aug. 8.
The increase will be financed by capitalizing of SAR 200 million from the retained earnings and the statuary reserve.
In a separate filing to Tadawul today, Aug. 9, eXtra’s board of directors declared a cash dividend at 25%, or SAR 2.5 per share, totaling SAR 150 million for H1 2022, the company said in a bourse statement.
|
Dividend Details (H1 2022) |
|
|
Current capital |
SAR 600 mln |
|
Number of shares |
60 mln |
|
Dividend |
SAR 150 mln |
|
Percentage of capital |
25% (SAR 2.5 per share) |
|
Record date |
Aug. 11, 2022 (Shareholders registered with the Securities Depository Center Co. at the end of the second trading day following the record date) |
|
Payment date |
Aug. 25, 2022 |
|
Capital Increase Details |
|
|
Current capital |
SAR 600 mln |
|
Number of shares |
60 mln |
|
Capital Increase (%) |
33.33% |
|
New Capital |
SAR 800 mln |
|
Number of Shares |
80 mln |
|
Method |
Distribution of 16.8 million bonus shares at 0.28 share for one existing share, equal to 7 shares to 25 existing shares. - The allocation of 3.2 million shares for the employee long-term incentive plan. |
|
Reason |
Boost financial position. |
|
Record Date
|
Shareholders of record on the extraordinary general meeting (EGM) day, which will be declared later, as well as those registered with the Securities Depository Center Co. on the second trading day after the EGM. |
The fractional shares will be compiled in one portfolio for all shareholders and sold at the market price. Proceeds will be distributed to the entitled shareholders pro rata within 30 days.
The capital increase will be subject to the approval of the competent authorities, as well as the extraordinary general meeting (EGM).
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 08/03/2022 | 14/04/2022 | 28/04/2022 | 150.00 | 1.88 | |
| 12/07/2021 | 15/07/2021 | 05/08/2021 | 120.00 | 1.50 | |
| 18/03/2021 | 25/03/2021 | 12/04/2021 | 120.00 | 1.50 | |
| 20/07/2020 | 09/08/2020 | 23/08/2020 | 60.00 | 0.75 | |
| 08/03/2020 | 15/03/2020 | 07/04/2020 | 62.50 | 0.78 | |
| 09/07/2019 | 22/07/2019 | 08/08/2019 | 50.00 | 0.63 | |
| 09/04/2019 | 21/04/2019 | 05/05/2019 | 62.50 | 0.78 | |
| 09/07/2018 | 17/07/2018 | 31/07/2018 | 31.50 | 0.39 | |
| 22/02/2018 | 27/03/2018 | 10/04/2018 | 52.50 | 0.66 | |
| 10/07/2017 | 13/07/2017 | 30/07/2017 | 31.50 | 0.39 |
| Consolidated cash dividend | Cash dividend per share (SAR) | * The stock price at the beginning of the period (SAR) | Return on the base price |
|---|---|---|---|
| Last 3 Financial years | 10.75 | 63.75 | 16.86 % |
| Last 5 Financial years | 14.41 | 40.19 | 35.85 % |
| Last 10 Financial years | 18.17 | 36.37 | 49.95 % |
| P/E (TTM) | 15.90 |
| P/E Before Unusual Items (TTM) | 16.46 |
| P/BV | 5.66 |
| Dividend Yield | 3.90 % |
| Market Cap. (M) | 7,680.00 |
| Return on Average Assets | 10.61 % |
| Return on Average Equity | 38.70 % |
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