Adnoc Distribution announces Dhs1.285b dividend for H2-2024
This brings the total annual dividend for 2024 to $700 million (Dhs2.57 billion), yielding 6.1 per cent, based on the 25th March 2025 closing share price of Dhs3.39, in line with the company's 2024-28 dividend policy of maintaining annual payouts of $700 million or a minimum of 75 percent of net profit, whichever is higher.
Dr Sultan Ahmed Al Jaber, Chairman of Adnoc Distribution, said, 'Financially, 2024 was another record-breaking year. We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success. For the second consecutive year, our EBITDA surpassed $1 billion, driven by record fuel volumes-which increased by nearly 9 percent-and sustained non-fuel retail growth, which have allowed us to deliver strong shareholder returns.'
In 2024, Adnoc Distribution unveiled a five-year growth strategy underpinned by commitments to domestic growth, building international platforms, and future-proofing its business. By successfully executing this strategy, the company achieved a record EBITDA of $1.05 billion (Dhs3.86 billion) in 2024, a 5 percent year-on-year increase driven by record fuel volumes, strong non-fuel retail growth, and higher contributions from its operations in Saudi Arabia and Egypt.
The 2024 dividend reflects the company's ability to generate strong free cash flow, which totalled $756 million (Dhs2.78 billion) in 2024.
Since its IPO in 2017, the company has distributed a total of $4.8 billion (Dhs17.4 billion) in dividends and delivered 92 percent in total shareholder returns.
This year's dividend distribution of $700 million marks a 3.5x increase from the $200 million distributed in ADNOC Distribution's first year as a listed company.
Bader Saeed Al Lamki, CEO of Adnoc Distribution, said, 'Adnoc Distribution is committed to leading the way for the future of mobility and convenience retail, as evidenced by our commitment to expanding our international operations and prioritising high-growth areas.'
He added that throughout 2025, the company will continue to drive towards our five-year strategic objectives, including 1,000 service stations across our network, increasing non-fuel transactions by 50 percent, and expanding the E2GO network to 500 EV charging points across the UAE by 2028.
In 2025, ADNOC Distribution is targeting the installation of approximately 100 additional fast and super-fast EV charging points across the UAE as part of its commitment to future-proofing and building the future of mobility.
In the Year of Community, Adnoc Distribution is also exploring new ways to position its service stations as more than just functional stops, redefining them as welcoming spaces at the heart of the communities they serve.
The company aims to double the number of properties occupied by top international and regional food and beverage brands by the end of the year, compared to the end of 2023.
By 2028, Adnoc Distribution seeks to grow the number of Adnoc Oasis convenience stores by 25 percent, increase non-fuel transactions by 50 percent and scale directly-operated franchise stores to 50 or more locations - a strategy is expected to allow for a 2.5-fold increase in property yield compared to traditional rental agreements.
The company is targeting 1,000 service stations across its network by 2028 and aims to add 40-50 in 2025, with 30-40 of these to be located in Saudi Arabia.
In 2024, Adnoc Distribution reached a milestone of 100 service stations in the Kingdom by deploying a smart Dealer-Owned, Company-Operated (DOCO) model. This CAPEX-light, scalable approach involves partnering with local dealers who own service stations, while Adnoc Distribution manages operations.
By 2029, Adnoc Distribution targets at least 300 stations across the Kingdom, positioning the company among the top five fuel and convenience retailers in the Saudi market.
Adnoc Distribution sees strong growth in 2025, with planned CAPEX of $250-300 million. Through AI-driven data analytics and personalised engagement, the company is reinforcing its commitment to digital transformation, strengthening its position as the UAE's leading multi-energy mobility retailer while expanding internationally in a disciplined manner.
A few days earlier, Adnoc Gas plc and its subsidiaries confirmed 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.
WAM
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Out Abu Dhabi
4 days ago
- Time Out Abu Dhabi
The petrol prices for August 2025 in the UAE have been announced
The UAE petrol price for August 2025 has officially been revealed. Announced by the UAE Fuel Price Committee, petrol and diesel prices have increased across the board for next month. UAE petrol prices August 2025 Super 98 petrol: Dhs2.69 per litre, compared to Dhs2.70 per litre last month Dhs2.69 per litre, compared to Dhs2.70 per litre last month Super 95 petrol: Dhs2.57 per litre, compared to Dhs2.58 per litre last month Dhs2.57 per litre, compared to Dhs2.58 per litre last month E-Plus 91 petrol: Dhs2.50 per litre, compared to Dhs2.51 per litre last month Dhs2.50 per litre, compared to Dhs2.51 per litre last month Diesel: Dhs2.78 per litre, compared to Dhs2.63 per litre last month Rates of petrol and diesel in the UAE are changed every month by the UAE Fuel Price Committee. When are new fuel prices announced in the UAE? UAE petroleum prices will change next month (Credit: Supplied) Fuel prices in the UAE are announced on the final day of every month and come into force the following day. This means that the UAE Fuel Price Committee announced new rates on Thursday July 31. Prices change the following day, on Friday August 1. Fuel prices in the country were liberalised in 2015, with local rates being aligned with global oil prices. For the past 10 years, the fuel price committee has met on a monthly basis to announce revised rates. UAE fuel types explained UAE petroleum prices change every month (Credit: Canva) Super 98 petrol is a high-octane fuel grade and is designed for high-performance engines and luxury vehicles. Super 95 petrol is an unleaded petroleum used by vehicles that require higher octane fuel to perform to their highest standard. E-Plus 91 petrol is the lowest grade of petrol available in the UAE. This is mainly used by fleets, commercial vehicles and standard cars. Diesel is known for its higher efficiency and is commonly found in buses, trains and large trucks. Do not put diesel in a car that requires unleaded fuel. How have UAE petrol prices changed over the past year? UAE petrol prices fluctuate based on a wide variety of factors – including seasonal variations, geopolitical events and global oil prices. This is reflected in the changing costs of petrol in the UAE since the start of 2024. In December, the price of petrol and diesel in the UAE reached its lowest point of 2024 and 2025 started things off with the exact same rates. Historical UAE fuel rates Super 98 petrol Super 95 petrol E-plus 91 petrol Diesel July 2025 Dhs2.70 per litre Dhs2.58 per litre Dhs2.51 per litre Dhs2.63 per litre June 2025 Dhs2.58 per litre Dhs2.47 per litre Dhs2.39 per litre Dhs2.52 per litre May 2025 Dhs2.58 per litre Dhs2.47 per litre Dhs2.39 per litre Dhs2.52 per litre April 2025 Dhs2.57 per litre Dhs2.46 per litre Dhs2.38 per litre Dhs2.63 per litre March 2025 Dhs2.73 per litre Dhs2.61 per litre Dhs2.51 per litre Dhs2.77 per litre February 2025 Dhs2.74 per litre Dhs2.63 per litre Dhs2.55 per litre Dhs2.82 per litre January 2025 Dhs2.61 per litre Dhs2.50 per litre Dhs2.43 per litre Dhs2.68 per litre December 2024 Dhs2.61 per litre Dhs2.50 per litre Dhs2.43 per litre Dhs2.68 per litre November 2024 Dhs2.74 per litre Dhs2.54 per litre Dhs2.55 per litre Dhs2.67 per litre October 2024 Dhs2.66 per litre Dhs2.54 per litre Dhs2.47 per litre Dhs2.60 per litre September 2024 Dhs2.90 per litre Dhs2.78 per litre Dhs2.71 per litre Dhs2.78 per litre August 2024 Dhs3.05 per litre Dhs2.93 per litre Dhs2.86 per litre Dhs2.95 per litre July 2024 Dhs2.99 per litre Dhs2.88 per litre Dhs2.80 per litre Dhs2.89 per litre June 2024 Dhs3.14 per litre Dhs3.02 per litre Dhs2.95 per litre Dhs2.88 per litre May 2024 Dhs3.34 per litre Dhs3.22 per litre Dhs3.15 per litre Dhs3.07 per litre April 2024 Dhs3.15 per litre Dhs3.03 per litre Dhs2.96 per litre Dhs3.09 per litre March 2024 Dhs3.03 per litre Dhs2.92 per litre Dhs2.85 per litre Dhs3.16 per litre February 2024 Dhs2.88 per litre Dhs2.76 per litre Dhs2.69 per litre Dhs2.99 per litre January 2024 Dhs2.82 per litre Dhs2.71 per litre Dhs2.64 per litre Dhs3 per litre Summer in Abu Dhabi The 27 best things to do indoors this summer in Abu Dhabi It's time for some air-conditioned bliss Psst: This is when summer officially ends in Abu Dhabi No complaints here 25 brilliant beach and pool day passes in Abu Dhabi Grab your SPF – a lush day by the water awaits
Gulf Today
6 days ago
- Gulf Today
Zayed Sustainability Prize sees surge in global participation
The UAE's Zayed Sustainability Prize, a pioneering global award that has transformed the lives of over 400 million people, has officially closed submissions for its 2026 awards cycle. A total of 7,761 entries from 173 countries were received across the six categories of Health, Food, Energy, Water, Climate Action and Global High Schools, reflecting the Prize's continued role in advancing impactful solutions to pressing global challenges. Now in its 17th year, the Prize empowers small to medium-sized enterprises (SMEs), nonprofit organisations and high schools to develop and scale sustainable innovations that improve lives, especially in vulnerable and underserved communities. From clean energy and healthcare access to regenerative agriculture and safe drinking water, this year's submissions reflect a rising focus on technology-powered, community-led models that expand access where it's needed most. Submissions increased by 30% compared to the previous cycle. There was a marked rise in projects that integrate cutting-edge technologies, such as artificial intelligence, direct air carbon capture, and fintech tools, with grassroots approaches, highlighting how innovation, equity, and long-term impact are converging in meaningful ways. Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Director-General of the Zayed Sustainability Prize, said, 'The record number of submissions to this year's Prize cycle reflects a growing global commitment to practical, scalable solutions that deliver long-term impact. 'We saw particularly strong momentum in food systems, where smart technologies are helping boost productivity and resilience. Across all categories, the increased use of AI and other advanced technologies highlights how innovation is being harnessed to drive inclusive, community-led progress. The Zayed Sustainability Prize remains focused on recognising pioneers who deliver measurable impact and advance sustainable development worldwide.' Early analysis shows that around 85% of all submissions came from the developing and emerging economies, with top contributions from India, Ethiopia, Uzbekistan, Brazil, and Indonesia. Participation was also high from developed countries like the United Arab Emirates and the United States of America, both making it into the top 10 submission countries. The Food (1,630) and Climate Action (1,880) categories attracted the highest number of entries, reflecting the global urgency around food security, ecosystem protection, and disaster resilience. These were followed by Health (1,497), Global High Schools (1,070), Water (863) and Energy (821). Submissions to the Health category grew by over 60% this year, with entries focusing on AI-enabled diagnostics, wearable tech, and decentralised care. Many also explored tech-enabled sustainable logistics and improved traceability to strengthen healthcare delivery systems. The food category highlighted advances in precision agriculture and agri-robotics, with smart systems and drones helping farmers boost yields as well as circularity in food systems. In Energy, submissions revealed a growing interest in thermal energy storage and advanced low-carbon fuels, and broader energy transformation, including solutions for future-proofing energy systems to meet the growing global demand scenarios. Entries in the water category explored innovative ways to expand freshwater access, including atmospheric water generation and low-energy desalination, as well as fintech tools that promote more transparent and equitable distribution. Climate action entries addressed both mitigation and adaptation, featuring nature-based solutions, direct air carbon capture, predictive tools for resilience and disaster preparedness, and community-based conservation grounded in Indigenous knowledge. Youth-led submissions in Global High Schools reflected a remarkable surge in youth engagement and commitment to sustainability, with projects ranging from AI-powered climate monitoring and smart irrigation for school farms to low-cost water filtration and tech-based approaches to waste tracking and upcycling. WAM
Web Release
7 days ago
- Web Release
Zayed Sustainability Prize Sees Surge in Global Participation with 7,761 Entries
The UAE's Zayed Sustainability Prize, a pioneering global award that has transformed the lives of over 400 million people, has officially closed submissions for its 2026 awards cycle. A total of 7,761 entries from 173 countries were received across the six categories of Health, Food, Energy, Water, Climate Action and Global High Schools, reflecting the Prize's continued role in advancing impactful solutions to pressing global challenges. Now in its 17th year, the Prize empowers small to medium-sized enterprises (SMEs), nonprofit organisations and high schools to develop and scale sustainable innovations that improve lives, especially in vulnerable and underserved communities. From clean energy and healthcare access to regenerative agriculture and safe drinking water, this year's submissions reflect a rising focus on technology-powered, community-led models that expand access where it's needed most. Submissions increased by 30% compared to the previous cycle. There was a marked rise in projects that integrate cutting-edge technologies – such as artificial intelligence, direct air carbon capture, and fintech tools – with grassroots approaches, highlighting how innovation, equity, and long-term impact are converging in meaningful ways. H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Director-General of the Zayed Sustainability Prize, said: 'The record number of submissions to this year's Prize cycle reflects a growing global commitment to practical, scalable solutions that deliver long-term impact. We saw particularly strong momentum in food systems, where smart technologies are helping boost productivity and resilience. Across all categories, the increased use of AI and other advanced technologies highlights how innovation is being harnessed to drive inclusive, community-led progress. The Zayed Sustainability Prize remains focused on recognising pioneers who deliver measurable impact and advance sustainable development worldwide.' Early analysis shows that around 85% of all submissions came from the developing and emerging economies, with top contributions from India, Ethiopia, Uzbekistan, Brazil, and Indonesia. Participation was also high from developed countries like the United Arab Emirates and the United States of America, both making it into the top 10 submission countries. The Food (1,630) and Climate Action (1,880) categories attracted the highest number of entries, reflecting the global urgency around food security, ecosystem protection, and disaster resilience. These were followed by Health (1,497), Global High Schools (1,070), Water (863) and Energy (821). Submissions to the Health category grew by over 60% this year, with entries focusing on AI-enabled diagnostics, wearable tech, and decentralised care. Many also explored tech-enabled sustainable logistics and improved traceability to strengthen healthcare delivery systems. The Food category highlighted advances in precision agriculture and agri-robotics, with smart systems and drones helping farmers boost yields as well as circularity in food systems. In Energy, submissions revealed a growing interest in thermal energy storage and advanced low-carbon fuels, and broader energy transformation, including solutions for future-proofing energy systems to meet the growing global demand scenarios. Entries in the Water category explored innovative ways to expand freshwater access, including atmospheric water generation and low-energy desalination, as well as fintech tools that promote more transparent and equitable distribution. Climate Action entries addressed both mitigation and adaptation, featuring nature-based solutions, direct air carbon capture, predictive tools for resilience and disaster preparedness, and community-based conservation grounded in Indigenous knowledge. Youth-led submissions in Global High Schools reflected a remarkable surge in youth engagement and commitment to sustainability, with projects ranging from AI-powered climate monitoring and smart irrigation for school farms to low-cost water filtration and tech-based approaches to waste tracking and upcycling. Following the close of submissions, the Prize now enters the evaluation stage. All entries will be shortlisted by an independent research and analysis consultancy. A Selection Committee comprised of globally renowned industry experts will then assess the qualified entries and shortlist the candidates. The third and final tier of the evaluation process is the Jury, which will convene in October to unanimously elect the winners in each category. Winners will be announced at the Zayed Sustainability Prize Awards Ceremony on 13 January 2026, during Abu Dhabi Sustainability Week. Each winner in the organisational categories will receive US $1 million, while six high schools – representing the world's regions – will be awarded US $150,000 each to implement or expand their sustainability projects. About the Zayed Sustainability Prize The Zayed Sustainability Prize, an affiliate of Erth Zayed Philanthropies, is the UAE's pioneering award for innovative solutions to global challenges. A tribute to the legacy and vision of the UAE's founding father, Sheikh Zayed bin Sultan Al Nahyan, the Prize aims to drive sustainable development worldwide. Each year, across the Health, Food, Energy, Water, Climate Action and Global High Schools categories, the Prize rewards organisations and high schools for their groundbreaking solutions to our planet's most pressing needs. Through its 128 winners, in 17 years, the Prize has positively impacted over 400 million lives across the globe, inspiring innovators to amplify their impact, and chart a sustainable future for all. Source: AETOSWire Contacts:
