ADNOC Distribution AGM approves 2nd and Final Dividend for 2021

ADNOC Distribution AGM approves 2nd and Final Dividend for 2021

ADNOC Distribution, the UAE’s largest fuel and convenience retailer, has delivered a sense of confidence and positive outlook to shareholders by approving the second and final dividend of $349.7 million (AED 1.285 billion) (10.285 fils per share) for the year ended December 2021, at its annual General Assembly meeting.

This dividend payment comes on top of an interim paid in October 2021, dividend payment for the first half of 2021, resulting in a full-year dividend of $699.5 million (20.57 fils per share). This is a clear indication not only of the ADNOC Distribution’s approved dividend policy, but also of the company’s ability to provide and maintain strong value to shareholders.

After expanding its network to 462 stations in the UAE by 2021, its international expansion has been a major focus throughout the past year, enabling 40 stations in the main market in Saudi Arabia. The company has expanded its lubricants business, ADNOC Voyager, to a total of 19 countries on three continents.

ADNOC Distribution’s resilient growth and solid outlook, have enabled it to have a progressive dividend policy for investors. Its dividend policy sets a dividend of a minimum of $699.5 million for 2022, providing visible payback to shareholders until April 2023. The