ADNOC Logistics & Services Plc (ADNOC L&S), a global leader in energy maritime logistics, has announced the approval of a cash dividend distribution of $136.5 million (AED 501.3 million) for the first half of 2024. This dividend, equivalent to 6.78 fils per share, reflects the company’s strong financial position and commitment to delivering attractive returns to shareholders. The total anticipated dividend for 2024 is $273 million (AED 1,002.6 million), marking a 5% increase from 2023’s annualized dividend, aligning with ADNOC L&S’s progressive dividend policy.
The record date for the interim dividend is set for October 17, 2024, with payments expected to be made within 30 days of the board’s approval on October 7, 2024. The company remains focused on its long-term strategy of value-accretive growth, with CEO Captain Abdulkareem Al Masabi reaffirming ADNOC L&S’s commitment to rewarding shareholders through strategic investments and consistent dividend distribution.
ADNOC L&S has continued to expand its operations across its three core segments—Integrated Logistics, Shipping, and Marine Services. Key developments in 2024 include the commissioning of eight to 10 Liquefied Natural Gas Carriers (LNGCs), two to four Very Large Ammonia Carriers (VLACs), and nine Very Large Ethane Carriers (VLECs). Additionally, the company is progressing with the acquisition of Navig8, further boosting its global fleet and energy-efficient capabilities.
ADNOC Logistics & Services Plc, listed on the Abu Dhabi Securities Exchange (ADX: ADNOCLS), provides maritime logistics solutions for the global energy sector, serving more than 100 customers across 50 countries. Through its comprehensive shipping and logistics services, the company supports the transportation of energy products worldwide.
