Al-Masabi added in an interview with “Sky News Arabia Economy” that the company, through the subscription, improves the capital of the Abu Dhabi Stock Exchange, and also improves the financial flows from foreign direct investments, in addition to create cash to achieve the company’s growth strategy.
He explained: “The company has decided to have annual dividends equivalent to $260 million at the annual level for the year 2023, and ADNOC Logistics and Services will distribute $65 million in profits for the second quarter of 2023, and they will be distributed in October this year.” as he said.
He added that the company will distribute profits of $130 million for the second half of this year, by April 2024.
The company has a policy that aims to increase the percentage of earnings per share by about 5% per year, according to Al-Masabi, in the medium term, adding that dividends are subject to the financial level of the company, its strategic projects and to market fluctuations. .
And the Emirati “ADNOC” has announced its intention to offer a minority stake representing 15% of the shares of “ADNOC Supply and Services” plc (“ADNOC Supply and Services”), the company operating in the field of maritime transport and integrated maritime logistics services. for the energy sector, on the Abu Dhabi Stock Exchange.
Subscription to the shares offered is expected to commence on May 16, 2023, and this is subject to obtaining approvals from relevant regulatory authorities and other considerations, according to an official statement, which was viewed by the Economy Sky News Arabia. website.
ADNOC Logistics and Services has a proven track record of growing locally and internationally, achieving operational excellence and effective cost control, resulting in significant profits and strong financial results.
Read the Latest World News Today on The Eastern Herald.
