Full Year dividend of $3.41 billion is the highest of any issuer on ADX in 2024 – final dividend of US$1.7 billion to be paid in Q2 2025
Strong results drove Total Shareholder Return of 19% for Full Year 2024
Company on course for potential MSCI and FTSE index inclusion in 2025 following 80% free float increase through successful marketed offering of 3.1 billion shares
Abu Dhabi, UAE – March 21, 2025: ADNOC Gas plc and its subsidiaries (together referred to as “ADNOC Gas” or the “Company”), confirms shareholder approval at its Annual General Meeting (“AGM”) to distribute $3.41 billion in full-year dividends for 2024, including a final dividend payment of $1.706 billion scheduled for distribution in the second quarter of 2025.
His Excellency Dr Sultan Ahmed Al Jaber, Chairman of ADNOC Gas’ Board of Directors, commented: “In 2024, we achieved record financial results, advanced major growth projects and declared the largest dividend payment on the ADX, while continuing to capitalize on robust market fundamentals to deliver a total return to shareholders of 19%. As the world increasingly turns to natural gas and LNG, particularly in Asia, we further strengthened our position as a critical enabler of global energy security and a key contributor to the UAE’s economic growth and industrial development. ADNOC Gas remains uniquely positioned to unlock further growth while supporting the transformation of global energy systems.”
ADNOC Gas delivered strong financial results in 2024 reporting record adjusted net income of $5 billion, up an impressive 13% year-on-year, and strong EBITDA growth of 14% year-on-year to $8.65 billion, with a high, stable EBITDA margin of 35% with free cash flow of $4.58 billion.
ADNOC Gas' robust full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024. The strategic update outlined investments of $15 billion in growth opportunities designed to meet the escalating global demand for natural gas and drive a projected 40% increase in EBITDA by 2029 from a 2023 baseline. This will be achieved through an expected 30% increase in the company’s gas processing capacity as ADNOC expands its upstream production capacity.
The AGM follows the completion of ADNOC’s recent marketed offering of 3.1 billion shares in ADNOC Gas – the largest share placement ever on the ADX and the largest secondary offering in the UAE at $2.84 billion. As a result of the completed offering, ADNOC Gas has expanded its shareholder base and anticipates potential inclusion in the MSCI and FTSE indices as early as this year.
Dividend Payment Dates
Payment Date Shareholders’ registry closing date Ex-dividend Date Last Entitlement date Amount (AED) Dividend Period
Within 30 days from the annual general assembly *2 April 2025 28 March 2025 27 March 2025 6,265,986,093 Dividend for the second half of financial year 2024
*dates are subject to change in accordance with the UAE’s official Eid Al Fitr holiday announcement.
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About ADNOC Gas
ADNOC Gas, listed on the ADX (ADX symbol: “ADNOCGAS” / ISIN: “AEE01195A234”), is a world-class, large-scale integrated gas processing company operating across the gas value chain, from receipt of feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE’s sales gas needs and supplies end-customers in over 20 countries. To find out more, visit: www.adnocgas.ae
(X) @ADNOCGas
For investor inquiries, please contact:
Christian Audi
Vice President, Investor Relations
+971 (2) 6037366
ir@adnocgas.ae
For media inquiries, please contact:
Colin Joyce
Vice President, Corporate Communications
+971 (2) 6037444
media.adg@adnoc.ae
Release Details
March 24, 2025