• Interim dividend, equivalent to 10.285 fils per share, to be distributed in October 2024, with September 26, 2024, set as last day for purchasing shares to qualify for payment
• Company’s new five-year dividend policy sets annual dividend of $700 million or minimum of 75% of net profit, whichever is higher, offering improved payback visibility and potential upside from future earnings growth
• Since its IPO in 2017, ADNOC Distribution has consistently delivered attractive shareholder returns, distributing $4.4 billion in dividends including the H1 2024 payout
• ADNOC Distribution’s network to offer specialized services for NWTN’s UAE-made range-extended electric vehicle (REEV) Rabdan One
• Launch supports Abu Dhabi’s Low-Emission Vehicle Strategy and aligns with the UAE’s goal to increase the number of electric vehicles
• Company continued network expansion and exceeded its 2023 target to open 25-35 service stations by adding 41 new stations during the year
• Non-fuel retail business delivered approximately 12.9% year-on-year growth in number of transactions and hit a four-year-high convenience store conversion rate of 24.7%
• Company launched first phase of fast and super-fast electric vehicle charging points, reaching over 50 charging points across its UAE service stations network
• First nine ADNOC-branded service stations were launched in Egypt in 2023
• EBITDA increases by 18% year-on-year to $248 million and net profit rises to $150 million.
• Year-on-year fuel volumes increase by 17% and non-fuel retail transactions rise by 7%, demonstrating continued momentum across both fuel and non-fuel businesses.
• ADNOC Distribution leverages AI-driven digital innovation to drive value and enhance efficiency, employing predictive fuel demand models, Fill & Go for personalized fueling, and expanding its network of EV charging points.
Underlying EBITDA up by 9% and net profit excluding inventory movements rises over 2% Y-o-Y in H1 2023, driven by higher fuel volumes and efficiency improvements
Read moreADNOC DISTRIBUTION BOARD APPROVES $350 MILLION (AED1.285 BILLION) INTERIM CASH DIVIDEND FOR FIRST SIX MONTHS OF 2023, EQUIVALENT TO 10.285 FILS PER SHARE
Read moreDividend of AED 1.285 billion (10.285 fils per share) approved for H2 2022 to bring total 2022 dividend to AED 2.57 billion (20.57 fils per share)
Read moreCompany’s Q3 2023 EBITDA rises to $303 million (AED1.1 billion) and net profit increases 9% Y-o-Y to $227 million (AED835 million)
Read moreADNOC Rewards Credit Card offers 15% value back on ADNOC purchases - delivering best-in-class returns across the UAE’s largest fuel and convenience network