The dividends will be distributed to shareholders registered in eXtra’s books at the end of the trading day of March 18.
Banque Saudi Fransi will begin distributing dividends, directly to the bank accounts of shareholders.
United Electronics Company (UEC) recently reported their financial results for the first quarter of 2012 where total sales during the first quarter of reached SR626 million, an increase of 31.3 percent compared to the same quarter of 2011.
For the three months ending March 31, 2012, eXtra reported a net profit of SR23.8 million, an increase of 25 percent compared to the same period of 2011.
eXtra reported a gross margin during the same period of SR111.9 million, an increase of 22 percent compared to the first quarter of 2011.
“We are pleased to be able to share our success in 2011 with our investors. We look forward to greater success as we press ahead with our aggressive expansion strategy, while maintaining a clear focus on offering the best products at outstanding prices,” said Abdullah A. Al Fozan, chairman, United Electronics Company (eXtra).
Al-Fozan said the company opened its first store in Jizan this year which marks the 25th Kingdomwide and plans remain to open four more stores by the end of this year bringing the total to 29.
Currently, eXtra provides the over 10 million customers it serves annually with more than 12,000 products across its 25 stores in Saudi Arabia.
In addition, eXtra recently introduced its online shopping portal (extra.com), the first fully fledged electronics and home appliance website of its kind in the Kingdom.
