Abu Dhabi – Mubasher: The general assembly of Adnoc Distribution has announced the modification of its dividends policy, according to the Emirates News Agency (WAM).

Under the new policy, the company will increase its dividends for 2019 by 63% to AED 2.39 billion ($650 million), compared to its dividends in 2018.

Dividends for 2020 will surge 75% to AED 2.57 billion versus its amount last year, WAM reported.

The Abu Dhabi-listed firm will distribute no less than 75% dividends for 2021 and years after.

Earlier in April, Reuters reported that Abu Dhabi National Oil Company (Adnoc) was planning a secondary listing for its distribution unit overseas.