ADNOC Gas to issue record dividend

ADNOC Gas shareholders have agreed a dividend of US$$3.41bn for 2024, including a final dividend payment of US$1.706bn, following record financial results

ADNOC Gas reported profits of US$5bn in 2024, up 13% year-on-year, and strong EBITDA growth of 14% year-on-year to US$8.65bn, with a high, stable EBITDA margin of 35% with free cash flow of US$4.58bn.

ADNOC Gas attributes its strong full-year 2024 results to the success of its disciplined strategy, unveiled in November 2024, to become the world’s leading integrated gas company. Under the strategy, ADNOC Gas will drive accelerated growth and enhance shareholder value through three strategic priorities: growth, decarbonisation, and future-proofing through AI and new technologies. This will see investments of US$15bn to meet the surging global demand for natural gas, to be achieved through an expected 30% increase in the company’s gas processing capacity as ADNOC expands its upstream production capacity.

ADNOC recently completed its marketed offering of 3.1bn shares in ADNOC Gas – the largest share placement ever on the ADX and the largest secondary offering in the UAE at US$2.84bn. 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.

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 capitalise 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 supplies around 60% of the UAE’s gas needs and exports natural gas and related products to a diverse customer base in over 20 countries.