Abu Dhabi – Mubasher: Fertiglobe, a joint venture (JV) between ADNOC and OCI, has announced cash dividends worth $750 million, equivalent to AED 2.75 billion, for the first half (H1) of 2022.

The UAE-based company will distribute a dividend of AED 0.33 per share this month to the shareholders of record date on 10 October, according to a recent press release.

Meanwhile, the last entitlement and ex-dividend dates will be on 6 and 7 October, respectively.

Ahmed El Hoshy, CEO of Fertiglobe, noted: “Fertiglobe’s very solid [H1-22] performance and approved dividends of $750 million has resulted from powerful earnings momentum, healthy cash conversion, and a robust capital structure.”

El Hoshy added: “As we look ahead to a very promising end to 2022, we will continue to execute on our strategy to create long-term value for all stakeholders.”

During the first six months (6M) of 2022, the ADX-listed firm logged net profits attributable to the owners worth $786 million, a leap from $198.50 million in the year-ago period.