Abu Dhabi – Mubasher: The annual general meeting (AGM) of ADNOC Drilling Company approved final dividends amounting to $341.25 million (AED 1.25 billion), equivalent to 2.13 cents per share (7.83 fils), for the second half (H2) of 2022.
The shareholders greenlighted the dividends, equivalent to 78.30% of the company’s issued share capital, on 3 April, according to a press release.
The board members proposed the 5% year-on-year (YoY) higher cash dividends last March.
Meanwhile, the record and payment dates for the dividends will be 13 and 25 April 2023, respectively.
Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, commented: “In 2022, we delivered a 33% YoY increase in net profit to reach $802 million for the year while driving [earnings before interest, taxes, depreciation, and amortisation] EBITDA to $1.23 billion through powerful revenue momentum coupled with excellent progress on cost efficiency.”
Al Seiari highlighted: “In 2023, we will continue to accelerate our growth trajectory, driven by our new market-leading rigs coming online, ongoing investments in integrated drilling services, and our expansion into unconventional oil and gas development."
Last year, the ADX-listed company posted net profits worth $801.80 million, up 33% from $603.91 million in 2021.
