Search Site

Trends banner

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

ADNOC L&S to pay $136.5m dividend

The final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of 3rd April 2025. (WAM)
  • The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year.
  • The H1 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17th October 2024.

Abu Dhabi, UAE — ADNOC Logistics and Services has announced that its Board of Directors approved the distribution of a cash dividend of $136.5 million (AED501.3 million) for the first half (H1) of 2024, equivalent to 6.78 fils per share.

The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year, a 5 percent increase on the 2023 annualized dividend, in line with its approved dividend policy.

The H1 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17th October 2024.

Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “We are pleased to announce the H1, 2024 cash dividend, reflecting our strong cash position and balance sheet. We remain committed to shareholder returns through value-accretive growth and the distribution of dividends. ADNOC L&S continues to make significant progress in its transformational growth strategy through strategic investments, while remaining focused on delivering value to our shareholders and stakeholders.”

The dividend is in line with the previously announced Board-approved dividend policy, which sets a progressive annual dividend increase per share of at least 5 percent per annum over the medium term, using the 2023 annualized dividend ($260 million / AED955 million) as the baseline.

The Company intends to pay dividends on a semi-annual basis, with an initial payment for its first-half results paid out in the fourth quarter of that year, and a second payment following its second-half results paid out in the second quarter of the following calendar year.

ADNOC L&S continues to see significant growth across all three of its business segments: Integrated Logistics, Shipping and Marine Services.

Since the start of 2024, ADNOC L&S has announced the commissioning of eight to 10 LNG Carriers (LNGC), two to four Very Large Ammonia Carriers (VLACs), and nine Very Large Ethane Carriers (VLECs), and has announced the ongoing acquisition of Navig8(1).

With these milestones, ADNOC L&S has increased its global footprint, capabilities, services and market-leading energy-efficient fleet.