ABU DHABI: ADNOC Logistics and Services plc has announced the approval of a cash dividend of $136.5 million (AED 501.3 million) for the first half of 2024, translating to 6.78 fils per share.
The decision underscores the company’s robust financial standing and commitment to rewarding shareholders amidst its ongoing transformational growth strategy.
For the full year of 2024, ADNOC L&S intends to distribute a total dividend of $273 million (AED1million).
The dividend for the first half of 2024 will benefit shareholders registered by the record date of October 17, 2024.
Captain Abdulkareem Al Masabi, the CEO of ADNOC L&S, said “We are pleased to announce the first half, 2024 cash dividend, reflecting our strong cash position and balance sheet.” He reiterated the company’s dedication to enhancing shareholder returns through value-accretive growth and strategic investments.
ADNOC L&S, through its three business segments—Integrated Logistics, Shipping, and Marine Services—continues to experience significant growth. Since the beginning of 2024, the company has revealed the commissioning of multiple vessels, including eight to ten LNG Carriers, two to four Very Large Ammonia Carriers, and nine Very Large Ethane Carriers, coupled with the ongoing acquisition of Navig8.
These developments contribute to ADNOC L&S’s expanding global footprint, capabilities, and market-leading energy-efficient fleet.
