United Electronics Company (eXtra) decided to pay out cash dividends valued at SAR 120 million for the first half (H1) of 2023, according to a bourse disclosure.

The Saudi firm will disburse a dividend of SAR 1.50 per share, representing 15%of the share nominal value, for 80 million eligible shares.

Eligibility and distribution dates for the H1-23 dividends will be 2 and 20 August 2023, respectively.

It is worth highlighting that the board members approved the dividends during their meeting on 30 July.

During the first six months (6M) of 2023, eXtra recorded net profits after Zakat and tax valued at SAR 146 million, lower by 35% year-on-year (YoY) than SAR 224.63 million.

Revenues grew by 2.09% to SAR 3.17 billion in H1-23 from SAR 3.11 billion in H1-22, while the earnings per share (EPS) declined to SAR 1.83 from SAR 2.81.

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