ADNOC Distribution shareholders agree to distribute 1.285 billion dirhams of profits for the second half of 2021

ADNOC Distribution Company, listed on the Abu Dhabi Securities Exchange, presented positive and promising prospects for its shareholders during the annual general assembly meeting. share money).

total distributions

These dividends are in addition to the profits for the first half of 2021 amounting to 1.285 billion dirhams (equivalent to 10.285 fils per share), which were distributed in October 2021, bringing the total distributions for the full year to 2.57 billion dirhams (equivalent to 20.57 fils per share), which is This is in line with the company's approved policy for distributing profits, and is a clear indication of the company's ability to achieve strong returns for its shareholders.

service stations

ADNOC Distribution stated that after it expanded its network of stations in the UAE to 462 service stations during 2021, it focused its efforts during the past year on international expansion by opening 40 service stations in Saudi Arabia, and increasing its exports of lubricants to 19 countries in three continents.

Distribution Policy

According to the company, the strong performance of ADNOC Distribution and its continuous growth helped establish a clear gradual dividend policy for investors. The company’s dividend policy sets out a distribution of at least 2.57 billion dirhams for 2022, which provides shareholders with a clear view of the returns that can be made. Achieved until April 2023.

The dividend distribution policy for the coming years has set dividends at a rate of no less than 75% of the distributable profits, at a time when ADNOC Distribution confirmed that it remains confident in its ability to fulfill its strategic commitments and achieve rewarding and sustainable returns for its shareholders.

promising opportunities

The Chairman of the Board of Directors of ADNOC Distribution, Dr. Sultan Ahmed Al Jaber, affirmed the company’s commitment to maintaining its growth pace in 2022 and beyond.

He added, "(ADNOC Distribution) enjoys promising opportunities to increase its revenues in light of the economic recovery, and its plans for growth and expansion locally and internationally, as well as the company's work to explore new opportunities to accelerate its growth."

Al Jaber stressed ADNOC Distribution's commitment to continue its expansion plans locally and internationally, as the company plans to open between 60 and 80 new service stations, including 20 to 30 service stations in the country during 2022, as well as 40 to 50 new service stations in international markets, including Saudi Arabia.

strategic growth

For his part, ADNOC Distribution’s CEO, Bader Saeed Al Lamki, said: “During 2021, we succeeded in achieving sound strategic growth, as our focus was on continuing our expansion plans within the country, which we strengthened by expanding our business network at the international level, especially In Saudi Arabia, I am confident of the progress we have achieved and are working to enhance it, as it constitutes an incentive for us to move forward with our plans for smart and sustainable growth, and to enhance the spirit of innovation that drives our vision in order to provide quality services.”

center of attraction

The company maintains its attractive position for local and international investors alike, especially after being included in the “Morgan Stanley Capital International” and “FTSE Emerging Markets” indices in 2021.

ADNOC Distribution recorded strong financial results during 2021, which is in line with analyst expectations, as the company achieved profits before interest, tax, depreciation and amortization amounting to 3.1 billion dirhams, and a net profit of 2.2 billion dirhams.

The end of 2021 witnessed a continuous recovery in the total quantities of fuel sold, in addition to doubling the volume of sales in the strategic Dubai market, which paved the way for the company's strong performance during the year in light of the easing of movement and movement restrictions in the wake of the Covid-19 pandemic.

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