Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will announce signing agreements with a strategic partner in Saudi Arabia in the near future, the company's CEO Saeed Mubarak Al Rashidi told Al Arabiya.

ADNOC Distribution, listed on the Abu Dhabi Securities Exchange (ADX), has allocated capital investments worth $300 million for 2019, Al Rashidi added.

ADNOC modified its dividends policy in order to repurchase 5% of its shares, he explained.

Earlier, the ADX-listed firm announced raising its dividends for 2019 by 63% year-on-year to AED 2.39 billion ($650 million), as well as increasing its dividends for 2020 to AED 2.57 billion.

The company’s net profits rose 18% to AED 2.12 billion in 2018, compared to AED 1.80 billion in 2017