ADNOC Distribution approves a dividend of AED1.28 billion for H2 2021
As part of the Annual General Assembly Meeting, ADNOC Distribution shareholders approved a consistent and fully maintained second and final dividend payment of AED1.285 billion (10.285 fils per share) for the year ended 31 December 2021. This dividend payment comes on top of an interim AED1.285 billion (10.285 fils per share) dividend payment for the first half of 2021, which was paid in October 2021, resulting in a full-year dividend of AED2.57 billion (20.57 fils per share).
ADNOC Distribution’s dividend policy is not only consistent with this decision, but it also demonstrates the company’s ability to provide and maintain strong value for shareholders. The company increased its network in the UAE to 462 stations in 2021, and its international expansion was a key focus during last year, including the operationalization of 40 stations in Saudi Arabia, a key market. In addition, ADNOC Voyager, the company’s lubricants business, expanded into 19 countries on three continents.
Due to ADNOC Distribution’s robust growth and solid outlook, investors have been able to enjoy progressive dividends. Dividends of a minimum 2.57 billion AED are scheduled for 2022, providing visible dividends to shareholders through April 2023. Following that, the dividend policy sets a dividend equal to at least 75 percent of distributable profits.