Abu DhabiL Adnoc Gas, the UAE-based integrated gas processing company, on Tuesday announced that its Board of Directors approved an inaugural interim cash dividend (interim dividend) of $1.625 billion (Dh5.968 billion).
The dividend will be distributed on December 14, equivalent to 7.776 fils per share. The interim dividend will be paid to shareholders who own Adnoc Gas shares on the record date of November 24.
Ahmed Alebri, Chief Executive Officer of Adnoc Gas, commented: “In line with Adnoc Gas’ growth strategy of expanding our portfolio while also generating attractive shareholder returns, I am delighted to announce the Board’s approval of our inaugural interim dividend. This not only underscores our robust financial performance in the first half, but also our commitment to rewarding our shareholders.
“This approach underscores our dedication to thriving in a dynamic business landscape while delivering robust returns to investors.”
Adnoc Gas expects to pay another $1.625 billion (Dh5.968 billion) as final cash dividend for the financial year 2023 in the second quarter of 2024.
The media statement added that the company aims to increase the annual dividend payment from $3.25 billion by 5 per cent per annum on a per-share basis from 2024 to 2027.