Abu Dhabi – Mubasher: The shareholders of Borouge approved the board’s recommendation to distribute cash dividends worth $650 million (AED 2.38 billion) for the second half (H2) of 2022.
This brings the full-year post-IPO cash dividends to $975 million (AED 3.58 billion), equivalent to 20.27% of the company’s capital, according to a bourse filing.
Meanwhile, the shareholders will receive a dividend of 7.90 fils per share on 12 April 2023.
The last entitlement and ex-dividend dates will be 21 and 22 March 2023, respectively.
It is worth noting that the shareholders greenlighted the dividends proposal during the general seemly meeting that was held on 13 March 2023.
Last year, Borouge registered $1.39 billion in net profit attributable to the owners, lower than $1.51 billion in 2021.
Revenues increased by 8.30% to $6.72 billion in 2022 from $6.21 billion a year earlier.
