Abu Dhabi \u2013 ADNOC Gas plc and its subsidiaries confirmed shareholder approval at its Annual General Meeting (AGM) to distribute USD 3.41 billion in full-year dividends for 2024, including a final dividend payment of USD 1.706 billion scheduled for distribution in the second quarter of 2025. ADNOC Gas is a subsidiary of ADNOC, an energy company based in the United Arab Emirates.<\/p>\n\n\n\n
\u201cIn 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%,\u201d Sultan Ahmed Al Jaber, Chairman of ADNOC Gas\u2019 Board of Directors, commented.<\/p>\n\n\n\n
Al Jaber added that, as the world increasingly turns to natural gas and LNG, particularly in Asia, the company further strengthened its position as a critical enabler of global energy security and a key contributor to the UAE\u2019s economic growth and industrial development. \u201cADNOC Gas remains uniquely positioned to unlock further growth while supporting the transformation of global energy systems,\u201d he said.<\/p>\n\n\n\n
The company delivered strong financial results in 2024, reporting a record adjusted net income of USD 5 billion, up an impressive 13% year-on-year, and strong EBITDA growth of 14% year-on-year to USD 8.65 billion, with a high, stable EBITDA margin of 35% with free cash flow of USD 4.58 billion.<\/p>\n\n\n\n
The robust full-year results demonstrate the success of the company\u2019s disciplined strategy, unveiled in November 2024. The strategic update outlined investments of USD 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.<\/p>\n\n\n\n
This will be achieved through an expected 30% increase in the company\u2019s gas processing capacity as ADNOC expands its upstream production capacity.<\/p>\n\n\n\n
The general meeting follows the completion of ADNOC\u2019s recent marketed offering of 3.1 billion shares in ADNOC Gas\u2013the largest share placement ever on the ADX and the largest secondary offering in the UAE at USD 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.<\/p>\n\n\n\n
Read more<\/em> Translated by Guilherme Miranda<\/strong><\/p>\n
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