Riyadh – Mubasher: United Electronics Company (eXtra) posted 13.44% lower net profits after Zakat and tax at SAR 84.40 million in the first quarter (Q1) of 2023, versus SAR 97.51 million in Q1-22.
Revenues hit SAR 1.43 billion in the January-March 2023 period, up 1.85% year-on-year (YoY) from SAR 1.41 billion, according to estimated financial results.
During the first three months (3M) of 2023, the earnings per share (EPS) declined to EGP 1.06 from EGP 1.22 in the year-ago period.
On a quarterly basis, the Q1-23 net profits plummeted by 30.47% from SAR 121.39 million in Q4-22, while the revenues dropped by 6.98% from SAR 1.54 billion.
Dividends for H2-22
The company’s board members announced, on 12 April 2023, the distribution of SAR 160 million as cash dividends for the second half (H2) of 2022.
eXtra will disburse SAR 2 per share, equivalent to 20% of the share nominal value, for 80 million eligible shares.
The eligibility and payment dates for H2-22 dividends will be 18 May and 4 June 2023, respectively.
Last year, the Saudi firm achieved net profits after Zakat and tax worth SAR 440.20 million, a rise of 10.93% from SAR 396.83 million in 2021.
