ADNOC Drilling will hold its annual general meeting on April 3, 2023. Image Credit: Supplied/Gulf News Archives

Abu Dhabi: The ADNOC Drilling Company’s board of directors has recommended a final dividend payment of $341.25 million for 2022, equivalent to 7.83 fils per share, subject to shareholder approval at the upcoming annual general meeting, the company said on Tuesday.

With this, the total dividend for 2022 stood at $682.5 million or 15.67 fils per share.

Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, said: “The attractive value proposition that we offer is backed by our recently published record 2022 results, stable and predictable cash flow and a progressive dividend policy that reaffirms our ongoing commitment to shareholders. As we acquire and deploy new rigs, expanding our services even further, our revenue will grow along with shareholder returns.”

The company will hold its annual general meeting on April 3, 2023.

ADNOC Drilling recently reported a record net profit of $802 million, up 33 per cent year-on-year. Revenue stood at $2.67 billion, up 18 per cent year-on-year, with EBITDA up 18 per cent at $1.23 billion.