ADNOC Distribution’s Market Cap Soars to $12 Billion

SourceAl Bawaba
SectorOil & Gas
CountryUnited Arab Emirates

The increase in the market capitalisation comes after a significant rise of 23.15 percent in the value of the company's share to AED3.57 from AED2.90 on the date of listing, according to the data released by the Abu Dhabi Securities Exchange (ADX), where the company's equities are traded. As the company's positive performance persists, the shareholders continue to reap significant dividends that resulted in ratcheting the value of its share deals to AED5.64 billion over the first nine months of 2020 thanks to the strategy adopted by the company's management which has rendered it among the very few listed firms paying out dividends more than once per year. In March, ADNOC Distribution's shareholders approved a second and final dividend payment of AED1.194 billion (9.55 fils per share) for the year ended December more...