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ADNOC Distribution’s shareholders greenlight H2-22 dividends

ADNOC Distribution’s shareholders greenlight H2-22 dividends
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ADNOC Distribution
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Abu Dhabi – Mubasher: The shareholders of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) approved cash dividends worth AED 1.28 billion, equivalent to 10.28 fils per share, for the second half (H2) of 2022.

Meanwhile, the full-year dividends amounted to AED 2.57 billion or 2.57 fils per share, accounting for 257.10% of the company’s share capital, according to a bourse filing.

The ex-dividend and last payment dates for the H2-22 dividends will be 24 March and 14 April 2023, respectively.

Notably, the shareholders granted their approval for the dividends proposal during the general assembly meeting that was held on 15 March 2023.

Last year, ADNOC Distribution generated net profits worth AED 2.74 billion, higher than AED 2.25 billion in 2021.

Basic and diluted earnings per share (EPS) increased to AED 0.22 in 2022 from AED 0.18 in 2021, while the revenues hiked by 53.50% to AED 32.11 billion from AED 20.92 billion.