United Electronics Company, Extra Saudi, announced an exceptional cash dividend distribution of SAR 400 million, equivalent to 50% of the proceeds from the IPO of its subsidiary, United International Holding, and its listing on the main Saudi stock market.
Dividend Details
The total dividend will be distributed across 80 million shares, offering shareholders SAR 5 per share. This reflects the company’s success in delivering substantial financial returns to its investors.
Future Plans for Share Repurchase
Extra Saudi revealed plans to repurchase 3 million ordinary shares to retain as treasury shares. The move is based on the company’s assessment that the current market price undervalues its stock, aiming to enhance shareholder value.
Strengthening Strategy and Confidence
With these initiatives, Extra Saudi continues to strengthen its investment strategies in the Saudi market, leveraging recent financial successes to support sustainable growth and bolster shareholder confidence.