Rezeptfrei Tabletten

Main Menu

  • Home
  • Packaging News
  • Current Ratio
  • Virtual Corporation
  • Cash Dividend
  • Finance

Rezeptfrei Tabletten

Header Banner

Rezeptfrei Tabletten

  • Home
  • Packaging News
  • Current Ratio
  • Virtual Corporation
  • Cash Dividend
  • Finance
Cash Dividend
Home›Cash Dividend›Adnoc Distribution approves interim cash dividend exceeding Dh 1.28 billion

Adnoc Distribution approves interim cash dividend exceeding Dh 1.28 billion

By admin
September 30, 2021
0
0


Adnoc Distribution, the UAE’s largest fuel retailer, has approved an interim dividend payment of more than 1.28 billion dirhams ($ 350 million) to its shareholders for the first half of this year.

The dividend payment for the year 2021 by the company is expected to amount to 2.57 billion dirhams, in accordance with its dividend policy, the company said in a statement to the Abu Dhabi Stock Exchange, where its shares are negotiated.

This would translate into an annual dividend yield of 4.9% for the year, based on a share price of Dh 4.16 on Thursday.

Adnoc Distribution shares offer an “attractive value proposition” to shareholders and investors with a “combination of low exposure to oil price volatility, predictable and healthy cash flow, high growth potential and an attractive dividend policy which offers high visibility on the return on investment “, declared Bader Al. Lamki, Managing Director of Adnoc Distribution.

“Our progressive dividend policy demonstrates our commitment to our shareholders, as we advance our strategic priorities of steady and sustainable growth, improved customer experience and attractive returns on capital,” he added.

The second and final dividend for 2021 is expected to be paid in April of next year, the company said.

Since its IPO in 2017, Adnoc Distribution has consistently increased returns for its shareholders with dividends of 1.47 billion Dh in 2018, 2.39 billion Dh for 2019 and 2.57 billion Dh last year. . The company has set a minimum dividend of 2.57 billion dirhams for 2022, against 75 percent of distributable profit under the previous policy.

“With our resilient business model, we are confident in our ability to pay an attractive dividend to our shareholders, while maintaining a significant ability to deploy capital through a disciplined investment strategy,” said Mr. Al Lamki.

Adnoc Distribution has stated that it will focus on expanding its network of service stations and invest in expanding its non-fuel and international business.

The fuel retailer opened 12 new service stations in the United Arab Emirates during the first half of this year. The company also obtained certificates of no objection from the Saudi General Competition Authority to acquire 35 new stations in the kingdom.

The acquisition of the stations in Saudi Arabia was announced in December and February.

In the United Arab Emirates, the company also renovated 24 of its Adnoc Oasis convenience stores during the first half of the year.

In May, Adnoc Distribution joined the MSCI Emerging Markets Index, which is followed by funds with assets in the billions of dollars. It joins nine other companies listed in the United Arab Emirates that are part of the index.

Update: September 30, 2021, 5:32 p.m.


Related posts:

  1. Medtronic Announces Fourth Quarter Fiscal 2021 Cash Dividend | Associated press
  2. Why Pal Group Co Passes This Dividend Checklist
  3. Clarkson raises dividend after ‘robust’ cash performance in 2020
  4. Phoenix Increases Dividend, Achieves Record Cash Generation
  • Privacy Policy
  • Terms and Conditions