Abu Dhabi – Mubasher: The shareholders of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) approved a final cash dividend of $350 million (AED 1.28 billion) for the second half (H2) of 2024.
The dividends will be disbursed in April 2025, according to a press release.
This brings the full-year dividends to $700 million (AED 2.57 billion), yielding 6.10%, based on the 25 March closing share price of AED 3.39.
This aligns with the company’s 2024-28 dividend policy of maintaining annual payouts of $700 million or a minimum of 75% of net profit, whichever is higher.
Sultan Ahmed Al Jaber, Chairman of ADNOC Distribution, commented: “Financially, 2024 was another record-breaking year. We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success.”
“For the second consecutive year, our EBITDA surpassed $1 billion, driven by record fuel volumes, which increased by nearly 9%, and sustained non-fuel retail growth, which allowed us to deliver strong shareholder returns,” Al Jaber stated.
The approved dividend reflects the ADX-listed company’s ability to generate strong free cash flow, which totaled $756 million (AED 2.78 billion) in 2024.
Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “Throughout 2025, we will continue to drive towards our five-year strategic objectives, including 1,000 service stations across our network, increasing non-fuel transactions by 50%, and expanding our E2GO network to 500 EV charging points across the UAE by 2028.”
Since its initial public offering (IPO) in 2017, the company has distributed a total of $4.80 billion (AED 17.40 billion) in dividends and delivered 92% in total shareholder returns.
