ADNOC-listed companies have approved more than $6.7 billion in total dividends for 2024
ADNOC Group’s public companies have agreed to pay more than $6.7 billion (AED 24.6 billion) in dividends to their shareholders in 2024, according to the state news agency WAM.
2024 Dividends
At the Annual General Meetings (AGMs) of six listed companies, shareholders agreed to the dividend plans suggested by each company’s board of directors.
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ADNOC Distribution: Shareholders approved a cash dividend of $350 million (AED 1.3 billion) for the second half of 2024 during the AGM on March 26. This brings the total dividend for the year to $700 million (AED 2.6 billion). The company plans to continue giving out at least $700 million or 75% of its net profit as dividends in 2025—whichever amount is higher.
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ADNOC Gas: Shareholders agreed on a dividend of $1.7 billion (AED 6.2 billion) for the second half of 2024. The total for the year is now $3.41 billion (AED 12.5 billion), which is the largest payout by any company on the Abu Dhabi Securities Exchange (ADX), according to WAM.
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ADNOC Drilling: Shareholders approved a $394 million (AED 1.4 billion) dividend for the second half of the year, making the total dividend for 2024 $788 million (AED 2.9 billion). The company plans to raise its dividend by 10% each year and aims to pay at least $1.15 billion by 2028.
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ADNOC Logistics & Services: A second-half dividend of $136.5 million (AED 501 million) was approved, bringing the full-year total to $273 million (AED 1 billion). This is a 5% increase compared to 2023, in line with the company’s plan to steadily grow its dividends.
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Borouge: In April, shareholders approved a second-half dividend of $650 million (AED 2.4 billion), making the total for 2024 $1.3 billion (AED 4.77 billion). During the AGM, Chairman Sultan bin Ahmed Al Jaber spoke about a plan to create Borouge Group International, which would combine Borouge and Borealis and buy Nova Chemicals.
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Fertiglobe: Shareholders agreed to a second-half dividend of $125 million (AED 459 million), making the total for 2024 $275 million (AED 1.01 billion). Since going public in 2021, Fertiglobe has paid $2.5 billion (AED 9.2 billion) to shareholders.
What’s Next
The European Union is expected to decide by May 12 whether to approve ADNOC’s $17.2 billion bid to buy the German chemical company Covestro. The EU may approve the deal, add some conditions, or begin a deeper four-month review, according to Reuters.
Published: 22th April 2025
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