ADNOC Distribution in for Dh2.39b dividend

Dubai: The Abu Dhabi oil services major ADNOC Distribution has a net profit of Dh2.22 billion for 2019, up 4.2 per cent year-on-year. That for the foruth quarter alone came to Dh496 million, a sharp gain of 11.3 per cent from a year ago.

The Board of Directors has recommended a Dh1.194 billion payout (at 9.55 fils a share) for the second-half of 2019, and raising the full-year tally to Dh2.39 billion (19.10 fils per share) and a 62 per cent increase over the previous year.

In a statement, Ahmed Al Shamsi, Acting CEO of ADNOC Distribution, said: “We have achieved strong financial results in the fourth quarter and in 2019, and we are committed to transforming ADNOC Distribution into a world-class company focused on delivering a unique customer experience that demonstrates our ability to grow and our focus on profitability.”