Adnoc Distribution shareholders approve final dividend – The National

Adnoc Distribution shareholders approve final dividend – The National

Adnoc Distribution shareholders approve final dividend. Adnoc Distribution's shareholders approved a second and final dividend payment of Dh1.194 billion (9.55 fils per share) for the year ended December 31, 2019 at its general assembly meeting held via video conference on Tuesday.. The payment comes on top of an interim dividend that was paid in October, resulting in a full-year dividend of Dh2.39bn, Adnoc Distribution said in a statement to the Abu Dhabi Securities Exchange, where its shares trade.. In 2020, the dividend will increase 7.5 per cent to Dh2.57bn as per the company's policy, it said.. The shareholders also approved amendments to the dividend policy from 2021 onwards, setting a Dh2.57bn dividend for 2021 and a dividend equal to at least 75 per cent of distributable profits from 2022.. "Adnoc Distribution shares offer a unique value proposition to shareholders and investors with a combination of low exposure to oil price volatility, predictable and healthy cash flows, strong growth potential and an attractive dividend policy (7.6 per cent at a share price of Dh2.70 as of March 31, 2020) that offers high income visibility.". Adnoc Distribution reported an 11.3 per cent increase in fourth quarter profit for 2019 on the back