Adnoc Distribution OKs AED1.28b interim dividend payment for H1

Adnoc Distribution OKs AED1.28b interim dividend payment for H1

Abu Dhabi / WAMAdnoc Distribution announced the approval of an interim dividend payment to its shareholders for the first six months of 2020 of AED1.285 billion (10.285 fils per share), equivalent to $350 million. This is the first payment in what is expected to be a full-year 2020 dividend payment of AED2.57 billion (AED20.57 fils per share), reflecting a 7 percent increase compared to last year's dividend of AED2.39 billion (19.10 fils per share). During its General Assembly meeting in March, the company announced an amendment to its dividend policy for 2021 onwards, setting an AED2.57 billion dividend for 2021 and a dividend equal to at least 75 percent of distributable profits from 2022 onwards, subject to the discretion of the Board of Directors and the approval of shareholders. Adnoc