7.83 fils per ordinary share for the second half of 2022. Up 5% year-on-year

ADNOC Drilling recommends final dividend of AED 1.25 billion

The company announced exceptional financial results for the year 2022 that exceeded expectations. From the source

ADNOC Drilling, listed on the Abu Dhabi Securities Exchange (ADX), announced yesterday that the company's board of directors has recommended a final dividend for 2022 totalling AED 1.25 billion, which will be subject to shareholder approval by voting on April 2023, <> during the company's annual general meeting.

In its first year since its listing on the Abu Dhabi Securities Exchange (ADX) in 2021, ADNOC Drilling achieved exceptional returns to shareholders with a total dividend of AED 2.50 billion for 2022.

Based on the company's progressive dividend policy reflecting its strong cash flow, annual dividends are expected to increase by at least 5% per year per share over the next four years (2023-2026).

ADNOC Drilling will hold its Annual General Meeting on April 2023, 1, during which shareholders will be invited to review and approve the Company's Board of Directors' proposal to distribute AED 25.2022 billion in final dividends for 2022, among other things. These due dividends will be paid in accordance with the regulations of the Securities and Commodities Authority. ADNOC Drilling recently reported exceptional financial results for 2 that exceeded market expectations and achieved a net profit of AED 95.33 billion, an increase of <>% year-on-year.