Dividend Policy

The Board has adopted a robust dividend policy designed to return to shareholders a substantial portion of its distributable free cash flow after expenditure on growth opportunities and while maintaining an investment grade credit profile. To the extent the Board determines to pay a dividend in respect of a given period, we intend to distribute cash dividends twice each financial year (each, a “reference year”), with an initial payment in the fourth quarter of the reference year in relation to the financial performance for the first six months of that financial year and a second payment in the second quarter of the financial year following the reference year in relation to the financial performance of the last six months of the reference year, subject to the approval of Shareholders at a general meeting. The Company's ability to pay dividends is dependent on a number of factors, including:

  • the availability of positive net income distributable reserves, the Company's capital expenditure plans, credit rating considerations and other cash requirements in support of our strategy in future periods;
  • market conditions, the then-current operating environment in our markets and the outlook for the Group's business;
  • level of expected future profits and our business plan (including our ability to perform in accordance with the expectations in our business plan);
  • the discretion of our Board, based on our outlook for our business; and
  • approval of any dividend payment at a general meeting of our Shareholders.

Inaugural Interim Cash Dividend

On November 14 2023, ADNOC Gas announced that its Board of Directors has approved an inaugural interim cash dividend (interim dividend) of $1.625 billion (AED5.968 billion) for distribution on 14 December 2023, equivalent to 7.776 fils per share. The interim dividend will be paid to shareholders who own ADNOC Gas shares on the record date of 24 November 2023. ADNOC Gas expects to pay another $1.625 billion (AED5.968 billion) as a final cash dividend for the financial year 2023 in the second quarter of 2024. The Company aims to increase the annual dividend payment from $3.25 billion by 5% per annum on a per-share basis from 2024 to 2027. This reflects ADNOC Gas’ confidence in its strong and visible future cash flows, that allows for both investment in long-term growth while also providing stable shareholder returns.