Shareholders approved all of the issues on the agenda for Adnoc Distribution’s Annual General Assembly Meeting (AGM) on Wednesday. One of the things approved was the final cash dividend of $350 million (Dhs1.285 billion) for the second half of 2024, which will be paid out in April 2025.
Based on the closing share price of Dhs3.39 on March 25, 2025, this raises the total annual dividend for 2024 to $700 million (Dhs2.57 billion), or 6.1%, by the company’s dividend policy for 2024–2028, which calls for maintaining annual payouts of $700 million or at least 75% of net profit, whichever is higher.
According to Adnoc Distribution Chairman Dr. Sultan Ahmed Al Jaber, 2024 broke another financial record. We fulfilled our five-year plan by hitting vital benchmarks that improved our market position and paved the way for long-term success. Due to record fuel volumes (which rose by almost 9%) and consistent non-fuel retail growth, we were able to provide robust shareholder returns. For the second year, our EBITDA exceeded $1 billion.
Adnoc Distribution published a five-year growth plan in 2024, supported by pledges to expand domestically, establish global platforms, and prepare for the company’s future. The company’s effective implementation of this plan resulted in a record EBITDA of $1.05 billion (Dhs3.86 billion) in 2024, a 5% year-over-year rise driven by its businesses in Saudi Arabia and Egypt, record fuel volumes, and robust non-fuel retail growth.
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