(MENAFN - Arab News) United Electronics Company (eXtra) announced that its board of directors has decided on the distribution of a cash dividend of SR1.75 per share for the second half (H2) of 2013. The total amount of SR52.5 million being returned to shareholders is equivalent to 17.5 percent of the company's current share capital.
The dividend will apply to shareholders registered in eXtra's books at the end of the trading day on Tuesday (Dec. 31). The distribution date will be announced in due course.
eXtra made two dividend payments in 2013. For the first six months of the year, the company distributed a dividend of SR1.25 per share, equivalent to SR37.5 million.
After distributing dividends for the second half of the year, the total amount returned to shareholders in 2013 by eXtra will be SR3 per share, equivalent to 30 percent of the company's current share capital.
Abdullah Al-Fozan, chairman of the board, United Electronics Company (eXtra), said: "In the year we celebrated our ten-year anniversary, we are delighted to have been able to share our success with our shareholders by making two dividend payments. We thank our investors, customers and staff members for their ongoing loyalty and support, which is the foundation upon which our company has been built over the last ten years."
eXtra was recently named as one of "The Top 200 Companies in the GCC" by Forbes Middle East, and also ranked as one of the Top 5 Services companies in the Kingdom of Saudi Arabia. In both 2010 and 2011, eXtra was cited by the Saudi Arabian General Investment Authority (SAGIA) as one of the Kingdom's fastest-growing companies. In addition, eXtra was also recently named as one of the Arabia 500 top companies in recognition of its exceptional growth and sustained commercial success.