ADNOC Distribution is committed to deliver attractive shareholder distribution supported by strong sustainable earnings growth.
Under the Articles of Association, the Company may distribute quarterly, semi-annual and/or annual dividends to shareholders from operating profits and/or accumulated profits of the Company. Since its IPO, the Company has historically aimed to pay a dividend twice each fiscal year, with an initial interim payment in October and a second payment in April of the following year.
In making recommendations to shareholders regarding the payment of dividends, the Board of Directors considers the cash management requirements of the business for operating expenses, interest expenses, and anticipated capital expenditures. The Board also considers market conditions, the operating environment, and outlook for the business.
The Company’s dividend policy sets a dividend of minimum of AED 2.57 billion (min. AED 0.2057 per share) for 2023. For the years thereafter, the dividend policy sets a dividend equal to at least 75% of distributable profits.
ADNOC Distribution is unwavering in its commitment to fulfilling its strategic goals and providing long-term sustainable returns to its shareholders.
Since IPO, the company has consistently increased payback to its shareholders through its progressive dividend policy supported by strong cash flow generation and balance sheet strength.
(1) Special dividend for the year 2017
(2) Subject to Shareholders’ approval
(3) Subject to the discretion of the Board of Directors and Shareholders’ approval