ADNOC Distribution produces and blends top-grade lubricants at our state-of-the-art facilities in Abu Dhabi to the highest international standards from world-renowned murban crude oil. We offer a wide range of premium products across automotive, industrial, marine and speciality.
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• 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
• Company reports Y-o-Y EBITDA growth of 4.6% in 2023, and 15.4% Y-o-Y increase in underlying EBITDA
• ADNOC Distribution surpasses its 2023 target of opening 25-35 new service stations by adding 41 stations to its network
• Fuel volumes sold in GCC countries (UAE and Saudi Arabia) rise 11.8% in 2023, while non-fuel transactions grow by 12.9% Y-o-Y
• Convenience store conversion rate reaches 24.7%, up from 21.7% in 2022, supporting non-fuel gross profit growth of 19.6% Y-o-Y
• Shareholders approve H2 2023 dividend of AED1.285 billion (10.285 fils per share), bringing 2023 total dividend to AED2.57 billion (20.57 fils per share)
• ADNOC Distribution has provided shareholders with a 90% return on their investment since its initial public offering in 2017
• New five-year dividend policy sets annual dividend of $700 million or a minimum of 75% of net profit, whichever is higher
• Company targets value-accretive domestic and international growth, exploring expansion in new markets
• Company reaffirms commitment to AI & innovation-enabled growth, customer-centricity, and sustainability while evolving into an international multi-energy, convenience and mobility leader
• AI and advanced technology enabled a four-year-high customer convenience store conversion rate of 24.7% and a 10% reduction in carbon emissions of fuel delivery truck operations
• 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