Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) announced that its Board of Directors will hold a meeting next Friday.
The company indicated in a statement to the Abu Dhabi Securities Exchange that its board of directors intends to issue a resolution to pass on Friday, September 20, to consider and approve the distribution of interim dividends for the first six months of 2024.
ADNOC Distribution recorded an increase in earnings before interest, tax, depreciation and amortization in the second quarter of 2024, by 15% year-on-year to reach AED 979 million.
Net profits also increased by 12.9% year-on-year to reach AED 623 million, while revenues increased by 8% year-on-year to reach AED 8.8 billion.
ADNOC Distribution achieved an increase in earnings before interest, tax, depreciation and amortization in the first half of 2024 by 16.2% year-on-year to reach AED 1.9 billion.
While net profit attributable to shareholders increased by 7.7% year-on-year to AED 1.2 billion, revenues for the six-month period increased by 8.7% to AED 17.5 billion.
The company expects to distribute profits for the first half of 2024 amounting to AED 1.285 billion to shareholders next October, according to the Board of Directors’ estimate.
