Markets eXtra to pay ‘exceptional’ dividend of $107m By Pramod Kumar December 19, 2024, 10:49 AM Reuters/Faisal Al Nasser United Company for Financial Services (Tasheel) was listed on the Saudi bourse on December 3 at SAR 132 per share Saudi retailer United Electronics Company (eXtra) will distribute “exceptional” cash dividends for the fourth quarter of 2024 after listing of its shariah-compliant consumer finance business. The company will pay SAR400 million ($106.5 million), or SAR 5 per share, to eligible shareholders who own the stock at the close of trading on December 31, 2024. The total number of shares eligible is 80 million. Non-resident investors will be subject to withholding tax at a rate of 5 percent. United Company for Financial Services (Tasheel), which provides non-banking financial services to its clients, is owned by eXtra’s subsidiary, United International Holding Company. eXtra to seek approval for consumer finance unit IPO Saudi financial services operator to list 30% on Tadawul Electronics retailer eXtra pulls plug on Egypt plans Tasheel was listed on the Saudi bourse on December 3 at SAR 132 per share. Tasheel provides Islamic consumer finance, buy-now-pay-later instalment plans and credit cards, according to information on its website. It obtained a license to sell credit cards from the Capital Market Authority in 2021. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
