United Electronics Company Extra decided to distribute cash dividends and bonus shares to shareholders.
According to Arabiya Net, Extra said in a statement that its board of directors decided to distribute cash dividends to the company's shareholders for the first half of 2022, with a total of about 150 million riyals, and 60 million shares are eligible for dividends.
The company added that the share of the distribution is 2.5 riyals, with a distribution ratio of 25% to the nominal value of the share.
The eligibility is for the shareholders who own shares on the due date, Thursday, corresponding to August 11, 2022 AD, who are registered in the company’s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date, and the distribution date will be on Thursday, August 25, 2022.
In a separate statement, the United Electronics Company Extra said that its board of directors decided to recommend to the extraordinary general assembly to increase the company's capital, which represents an increase of 33.33% of the company's capital, in order to support the company's financial position, and thus the company's capital will increase from 600 million riyals to 800 million One million riyals, and the number of shares will increase from 60 million shares to 80 million shares.
She added that the increase will be through the distribution of 16.8 million shares as bonus shares to shareholders at a rate of 0.28 shares for each share owned by the shareholder, which is equivalent to 7 shares for every 25 shares owned by the shareholder, which represents an increase of 28% of the company's capital, after obtaining the approval of the competent authorities and the Assembly. Extraordinary General Assembly on the increase in the capital and the number of shares granted.
The eligibility is for the shareholders who own the shares on the due date at the end of trading on the day of the company’s extraordinary general assembly, which will be announced later on, and who are registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the company’s extraordinary general assembly And in the event of fractional shares, the fractional shares will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.
The Board of Directors decided to allocate 3.2 million shares for the purpose of adding it to the company's employee stock program, the long-term incentive plan, after obtaining the approval of the competent authorities and the extraordinary general assembly, which will be announced later.
