In a significant development for shareholders, ADNOC Logistics & Services (ADNOC L&S) has announced the approval of a final dividend amounting to $130 million for the fiscal year 2023.
This decision reflects the company’s commitment to delivering value to its investors and underscores its strong financial performance despite global economic challenges.
During the Annual General Meeting (AGM) held recently, shareholders of ADNOC L&S voted in favor of the proposed final dividend, affirming confidence in the company’s strategic direction and financial stability.
The approved dividend payout highlights ADNOC L&S’s resilience and ability to generate sustainable returns even amid market volatility.
ADNOC L&S, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), has emerged as a key player in the energy logistics sector, offering a wide range of services including shipping, marine services, and offshore logistics.
The company’s diversified portfolio and strategic investments have contributed to its strong financial performance and position as a leader in the industry.
The approval of the $130 million final dividend underscores ADNOC L&S’s commitment to rewarding shareholders for their continued support and investment in the company. It reflects management’s confidence in the company’s financial health and long-term growth prospects, despite the challenges posed by the global economic environment and fluctuations in energy markets.
Commenting on the dividend approval, Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, expressed gratitude to shareholders for their trust and confidence in the company’s capabilities. He reiterated ADNOC L&S’s commitment to delivering sustainable value and driving growth through operational excellence and strategic investments.
The dividend payout further strengthens ADNOC L&S’s position as a reliable and attractive investment opportunity in the energy sector, providing shareholders with steady returns and enhancing the company’s attractiveness to potential investors. It also reflects ADNOC’s broader strategy to maximize value for its stakeholders and optimize returns from its diverse business portfolio.
As ADNOC L&S continues to expand its presence and enhance its service offerings, the company remains focused on driving efficiency, innovation, and sustainability across its operations. The approval of the $130 million final dividend for 2023 underscores the company’s commitment to delivering long-term value and solidifying its position as a trusted partner in the global energy supply chain.