Adnoc Distribution, the UAE's largest fuel and convenience retailer, has greenlit a new five-year dividend policy, signaling accelerated growth for the company and offering long-term visibility for investors. The policy, spanning 2024-2028, pledges an annual dividend of $700 million or a minimum of 75% of its net profit, ensuring robust returns for shareholders, as stated in a release to the Abu Dhabi Securities Exchange. At the recent annual meeting, shareholders also nodded in approval for distributing Dh1.285 billion ($350.14 million) in dividends for the second half of 2023.

This dividend payout, equivalent to 10.285 fils per share, is anticipated to be disbursed in April, bringing last year's total dividend to Dh2.57 billion, offering investors a substantial 5.6% yield. Dr. Sultan Al Jaber, Chairman of Adnoc Distribution, expressed confidence in the company's new strategy and future prospects, affirming that the revamped dividend policy reflects the company's sustainable growth trajectory and commitment to rewarding shareholders.