ADNOC L&S to distribute interim cash dividend of AED239 mn for Q2-23

ADNOC L&S to distribute interim cash dividend of AED239 mn for Q2-23

ABU DHABI, 9th October, 2023 (WAM) -- ADNOC Logistics and Services plc (ADNOC L&S) (ADX symbol ADNOCLS / ISIN AEE01268A239), today announced that its Board of Directors has approved the distribution of an interim cash dividend of $65 million (AED239 million) for Q2 2023, equivalent to 3.2 fils per share.

The interim dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 19 October 2023. The dividend, in relation to H2 2023 is anticipated to be paid in Q2 2024. At the time of listing the Company indicated a H2 2023 dividend of $130 million (AED477 million).

Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: "The planned interim distribution of ADNOC L&S’ cash dividend underscores our strong performance in the first half of the year and is testament to our unwavering commitment to providing value to our shareholders. Our solid cash generation and net cash position give us ample resources to sustain our ongoing operational requirements and facilitate continued investment in long-term, value-enhancing growth opportunities. Looking ahead, we remain focused on delivering on our smart growth strategy which includes expanding our geographical reach, exploring new revenue streams, and unlocking additional value for our shareholders."

From fiscal