ADNOC Distribution Distributes Dividends To Shareholders Totalling AED1.194 Billion

Faizan Hashmi Published September 30, 2019 | 05:15 PM

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 30th Sep, 2019) The ADNOC Distribution Board of Directors has approved the distribution of dividends to shareholders for the first half of 2019, valued at AED0.0955 per share and totalling AED1.194 billion.

The board made the approval during its meeting on 29th September in Abu Dhabi, which was announced on the website of the Abu Dhabi Securities Exchange.

The last day to buy shares that are eligible to receive proceeds will be on 7th October 2019, and share trading will commence on 8th October while on 9th October, shareholder registration will close.

The company’s proceeds increased to AED1,172.8 million, or AED0.09 per share, in the first half of 2019, compared to AED1,123.3 million in the same period in 2018.

The increase in the company's proceeds during the first half of this year was supported by an increase in its profit margin to 24.1 percent, compared to 23.8 percent in the first half of 2018. Its overall expenses also decreased by seven percent, which was aided by a decrease in administrative expenses by 13 percent, totalling AED1,293.3 million, compared to AED1,492.2 million during the same period last year.