ADNOC Distribution, listed on the Abu Dhabi Securities Market (ADNOCDIST) (ISIN: AEA006101017), has announced that it has received a Shariah-compliant rating certificate in accordance with a survey conducted by the United Islamic Banks Committee for Shariah Equity Evaluation of the UAE. United Arab Emirates. This certificate allows brokerage firms of Islamic banks to trade ADNOC Distribution shares.
Commenting on the company's shares, ADNOC Distribution's Acting CEO Eng. Saeed Mubarak Al Rashdi said: “This certificate paves the way for our existing and future shareholders who prefer to be Shariah-compliant to invest in ADNOC Distribution, which expands our investor base and contributes to increased liquidity. Our shares. "
ADNOC Distribution reported strong financial results during the first half of this year, including an annual net profit growth of 4.3%, while free cash flows (EBITDA minus capital expenditure) increased by 21% YoY.
ADNOC Distribution announced a positive change in its dividend policy in April.The new policy reflects a 63% increase in 2019 dividend to AED 2.39 billion and 75% for 2020 (AED 2.57 billion) compared to the dividend for the year. The company expects to pay interim dividends (representing half of the dividend for 2019) of AED 1.194 billion in October this year, subject to Board approval.