Abu Dhabi, UAE — ADNOC Drilling will pay interim dividend payment of $358 million, or 8.22 fils per share, for the first half of 2023.
This represents another five-percent year-on-year increase, in-line with the company’s dividend policy. The interim dividend distribution will be on or around October 27, 2023, to all shareholders of record as of October 19, 2023.
In the first half of 2023, ADNOC Drilling announced increased revenue of $1.4 billion, up 13 percent year-on-year, EBITDA of $677 million, up 17 percent year-on-year and net profit of $446 million, up 18 percent year-on-year.
Abdulrahman Abdulla Al Seiari, ADNOC Drilling’s Chief Executive Officer, said, “This continued growth in dividend reflects ADNOC Drilling’s strong and visible cash flows and confidence in long-term growth.”
“During the first half of 2023, we have continued the rapid and unprecedented expansion of our fleet, as well as signing contracts worth more than $2.4 billion. These long-term contracts, and our unique relationship with ADNOC, provide clear, long-term visibility on cashflows and earnings, as well as protection against market volatility.”
Since listing on Abu Dhabi Securities Exchange, and including this latest interim dividend payment, the Company will have distributed $1.36 billion to shareholders.