RIYADH: United Electronics Co., also known as eXtra, is seeking its shareholder’s approval to increase its capital by over 33 percent, from SR600 million to SR800 million ($231 million), through the issuance of bonus shares. The electronics goods supplier’s capital increase plan is intended to strengthen the firm’s financial position, according to its bourse filing. The board of directors has recommended increasing the company’s capital by raising the number of shares to 80 million from 60 million. It said 16.8 million shares will be distributed as bonus shares, while 3.2 million shares will be added to the company’s employee shares program. eXtra’s net profit for the first half of 2022 surged by 24 percent to SR225 million, compared to SR182 million reported during the same period last year. eXtra also announced its decision to distribute SR150 million as dividends at SR 2.5 per share for the first half of 2022. The company said in a bourse filing that 60 million eligible shares will receive dividends on Aug. 25, 2022.