ADNOC Distribution hosts virtual Annual General Assembly – ZAWYA

ADNOC Distribution hosts virtual Annual General Assembly – ZAWYA

2020 dividend policy set to continue with an increase by 7.5% to AED 2.57 billion after 62% increase in 2019 dividend to AED 2.39 billion. General Assembly approves changes to the dividend policy increasing 2021 dividend to AED 2.57 billion. Dr. Sultan Al Jaber said that ADNOC Distribution's focus on customer experience was an integral part of the Company's success in 2019. ". In 2019, ADNOC Distribution successfully increased its In-Country Value (ICV) (procurement awarded to local suppliers) and the Company will continue to identify opportunities to further increase spending on local suppliers and enhance its ICV contribution to the UAE economy.. The dividend payment comes on top of an interim AED 1.194 billion (9.55 fils per share) dividend payment for the year, which was paid in October 2019, resulting in a full-year dividend of AED 2.39 billion (19.10 fils per share), consistent with ADNOC Distribution's dividend policy approved by its shareholders in 2019, and being an increase of 62% compared to 2018.. The Company's shareholders also approved amendments to the dividend policy for 2021 onwards, setting a AED 2.57 billion dividend for 2021 (compared to minimum 75% of distributable profits as per current policy) and a dividend equal to