Abu Dhabi - Mubasher: ADNOC’s six listed companies target cash dividends valued at AED 158 billion ($43 billion) through to 2030, subject to customary approvals.
This is in addition to the AED 86 billion ($23 billion) already paid since the first initial public offering(IPO) in 2017, according to a press release.
The six companies represent more than AED 550 billion ($150 billion) of the market cap and nearly 40% of the annual dividends paid on the ADX.
Sultan bin Ahmed Al Jaber, Group CEO of ADNOC, said: “Our target to distribute AED 158 billion in dividends is a landmark step that gives investors and shareholders clear visibility of dividend distributions through 2030. In doing so, we are reaffirming our confidence and steadfast commitment to delivering long-term value, reducing costs, enhancing efficiency and accelerating growth.”
ADNOC Distribution
ADNOC Distribution outlined a proposed extension to its existing dividend policy for an additional two years through 2030, which is expected to bring total dividend targets since 2024 to AED 18 billion ($4.9 billion).
This follows a previously announced AED 12.85 billion ($3.50 billion) target from 2024 to the end of 2028.
Dividends will now be paid quarterly from the first quarter (Q1) of 2026, rewarding shareholders more frequently, while providing long-term returns visibility beyond the prior 2028 policy duration.
Meanwhile, the policy assumes a cumulative return of more than 30% between 2025 and 2030 with upside potential from future earnings growth.
ADNOC Drilling
ADNOC Drilling Company enhanced its progressive dividend policy, increasing the distribution floor by 27% year-on-year (YoY) to AED 3.70 billion ($1 billion) in 2025. Meanwhile, the company will increase dividends by at least 5% annually from 2026 to at least 2030, subject to relevant approvals.
The company moved to quarterly dividends in Q1-25. This shift, combined with the 2025 dividend floor increase, is expected to enhance shareholder returns.
Incorporating the distribution boost for 2025, ADNOC Drilling announced a total dividend distribution floor of AED 25 billion ($6.80 billion) by 2030, representing a 26% minimum cumulative dividend return.
ADNOC Gas
ADNOC Gas declared a dividend target of AED 90 billion ($24.40 billion) through to 2030, reflecting a 30% minimum cumulative return for the period between 2025-2030.
Dividends will also be paid on a quarterly basis from Q3-25 onwards, providing more frequent shareholder returns while enhancing investor cash flow.
The group is expecting strong Q3-25 results of nearly AED 4.80 billion ($1.30 billion), around 5% higher than the same period in 2024, in a 14% lower oil price environment.
ADNOC Logistics & Services
ADNOC Logistics & Services (ADNOC L&S) hiked its minimum dividend payment guidance to AED 1.20 billion ($325 million) for 2025, reflecting an almost 20% YoY growth compared to the AED 1 billion ($273 million) distributed for 2024. This also surpasses the 5% YoY minimum growth target under the dividend policy outlined at the time of the IPO.
Currently, the group intends to continue to grow its dividend distributions by a minimum of 5% YoY based on the new floor of AED 1.20 billion ($325 million) from 2026 until 2030.
ADNOC L&S has also announced a 2025-2030 dividend target of AED 8.10 billion ($2.20 billion), representing a 52% leap in annual dividends by 2030 versus the base of 2024.
Subject to regulatory approvals, the dividends will be paid quarterly from Q3-25.
Borouge
Borouge targets aggregate minimum dividend through to 2030 to amount to AED 27 billion ($7.30 billion). This is based on its planned dividends for H2-25 of AED 2.40 billion ($660 million), which will be paid in April 2026.
Its dividend forecast stands at AED 4.87 billion ($1.32 billion) annually for 2026-2030, subject to relevant approvals.
As of the end of the first half (H1) of 2025, the company has already delivered AED 1.10 billion ($307 million) in value against its target.
Fertiglobe
ADNOC's low-carbon ammonia platform Fertiglobe unveiled a AED 459 million ($125 million) dividend payment for H1-25, higher by 25% than the initial guidance of at least AED 367 million ($100 million).
In addition to AED114 million ($31 million) share buybacks in H1-25, this implies total cash returns to shareholders of AED 573 million ($156 million).
