Following its general assembly meeting recently, United Electronics Company (eXtra) announced that a unanimous decision was reached on giving 12.5 percent cash dividend for the first half of 2013.

The members of the general assembly recommended distribution of a cash dividend of SR1.25 per share to shareholders for H1 2013. The cash dividend is equivalent to SR37.5 million or 12.5 percent of the company’s current capital of SR300 million. The dividend distribution will be processed by the Saudi British Bank (SABB), and will start on Oct. 31 to all shareholders on record at the end of trading day on Sept. 30, 2013.

The general assembly passed a resolution authorizing the board of directors to distribute dividend payment for the first half of 2013, starting Sept. 30 and to take all necessary measures in this regard.

Abdullah Al-Fozan, chairman of the board, United Electronics Company, said: “Today’s announcement is a reflection of eXtra’s truly stellar growth this year — and we are very pleased to be able to share the success with our shareholders, while still preserving sufficient capital long-term expansion strategy. This has been an extraordinary year for eXtra as we successfully established our presence into Oman and Bahrain. On this occasion we would like to thank our investors, customers, and staff members for their commitment, and we look forward to their continued support in the years to come.”

Karim Manssour Dahbi, CEO United Electronics Company, said: “The next few years will undoubtedly be a period of expansion for eXtra as we will continue to seize every opportunity to bring the best value coupled with an unparalleled range of services to our customers, while we strive to increase our presence in the Gulf.”