She said ADNOC Logistics and ServicesIn a statement, it intends to distribute total profits of one billion dirhams (about $273 million) for the entire fiscal year, an increase of 5 percent, compared to the dividend rate for the year 2023, and in line with the approved dividend policy.
Dividends for the first half of 2024 will be distributed to shareholders who own shares in the company on the registration date of October 17, 2024.
On this occasion, Captain Abdul Karim Al Musabi, CEO of ADNOC Logistics and Services, said: “We are pleased to announce the distribution of cash dividends for the first half of 2024, which reflects our strong cash position and solid balance sheet. We are committed to providing rewarding returns to shareholders by enhancing value.” Accumulated profits and distribution of profits. ADNOC Logistics and Services is moving forward with its transformational growth strategy by implementing strategic investments, while continuing to focus on providing rewarding value to its shareholders and stakeholders.”
These profits are in line with the dividend policy approved by the Board of Directors, which aims to increase annual profits per share on an incremental basis by no less than 5% annually in the medium term compared to annual profits for the year 2023, which amounted to 955 million dirhams ($260 million). .
The company intends to distribute Profits On a semi-annual basis, whereby an initial payment is distributed for the results of the first half in the last quarter of the same year, and the second payment is distributed after the results of the second half in the second quarter of the following calendar year.
ADNOC Logistics and Services continues to achieve significant growth across its main business sectors: integrated logistics services, shipping, and marine services.
Since the beginning of 2024, the company has signed contracts to build between eight and 10 liquefied natural gas carriers, two to four giant ammonia carriers, and nine giant ethane carriers. The company also announced its acquisition of Navig8 (1). These achievements have contributed to enhancing the company’s global presence, improving its capabilities and services, and expanding its market-leading fleet that is highly environmentally efficient.
