United Electronics Company’s (eXtra) [4003.SE] Board of Directors has proposed the distribution of bonus shares (1:6), to be capitalised through retained earnings. This will bring the company’s total number of shares to 42mn from 36mn. The company did not pay a cash dividend in 2016. The ex-dividend will be the day following the company’s EGM, the date of which is yet to be announced. (Company disclosure, Nada Amin, Hatem Alaa) eXtra: SAR27.42 as of 20 Feb. 2017, Rating: Buy, TP: SAR39.00/share, MCap: USD263mn, EXTRA AB/4003.SE
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