ADNOC Drilling Company announced on Wednesday a dividend of 7.46 fils per share for the fiscal year ending December 31, 2021, amounting to US$325 million. This brings the total dividend to US$685 million for the full-year 2021.
The dividend was approved at the company’s inaugural Annual General Assembly held on April 20, 2022.
The company saw revenues increase by 8.2 percent, EBITDA of more than US$1 billion and 6 percent in net income growth. The dividend will be paid to shareholders in accordance with Securities and Commodities Authority (SCA) regulations.
“Our shareholders’ approval of the very attractive 2021 final dividend of US$325 million in ADNOC Drilling’s inaugural AGM is cemented by the Company’s strong full year results and its unique role as ADNOC’s sole drilling services provider,” Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of the ADNOC said. “ADNOC Drilling will continue to deliver the thousands of wells required for ADNOC’s significant production capacity growth targets, resulting in ongoing demand for drilling services and enabling sustainable growth while ensuring robust future returns for our shareholders”.
ADNOC Drilling was recently included among 15 constituents of the newly launched FTSE Russell ADX 15 Index (FADX15).
FADX15 is the first co-developed index under ADX’s strategic partnership with FTSE Russell, positioned to be the main benchmark for the ADX market and specifically designed as a tradable index.