ADNOC Distribution has announced that it expects to distribute AED 1.196 billion to its shareholders for the second half of 2019, expected to be distributed in April next year.
The company said today it expects a dividend of AED 2.39 billion to shareholders in 2019, equivalent to 19.1 fils per share, an increase of 62 per cent compared to last year's dividend of AED 1.72 billion per share.
This came after the company's board of directors approved yesterday a dividend for the first half of this year of 1.194 billion dirhams equivalent to 9.55 fils per share.
The second part of the 2019 dividend is expected to be distributed in April 2020, the company said.
The announcement reflects the first dividend since ADNOC Distribution approved its new dividend policy in April.
The company's policy for 2020 includes a dividend of AED 2.57 billion, equivalent to 20.57 fils per share, in addition to a minimum dividend of 75% of dividend payable from 2023.