Abu Dhabi, UAE \u2013 October 10, 2023: ADNOC Drilling Company PJSC (\u201cADNOC Drilling\u201d or the \u201cCompany\u201d) (ADX symbol: ADNOCDRILL \/ ISIN: AEA007301012) announces an interim dividend payment of $358 million, or 8.22 fils per share, for the first half of 2023. This represents another 5% year-on-year increase, in-line with the Company\u2019s progressive dividend policy. The interim dividend distribution will be on or around October 27, 2023, to all shareholders of record as of October 19, 2023.<\/p>\n
ADNOC Drilling Chief Executive Officer Abdulrahman Abdulla Al Seiari said: \u201cThis continued growth in dividend reflects ADNOC Drilling\u2019s strong and visible cash flows and confidence in long term growth. Our ability to deliver highly attractive, sustainable and growing shareholder returns is testament to our focus on profitability and cash flow, with our customers growth plans and our own initiatives providing a solid pipeline of further growth in the coming years.<\/p>\n
\u2018\u2019During the first half of 2023, we have continued the rapid and unprecedented expansion of our fleet, as well as signing contracts worth more than $2.4 billion. These long-term contracts, and our unique relationship with ADNOC, provide clear, long-term visibility on cashflows and earnings, as well as protection against market volatility.\u2019\u2019<\/p>\n
In the first half of 2023, ADNOC Drilling announced increased revenue of $1.4 billion, up 13% year-on-year, EBITDA of $677 million, up 17% year-on-year and net profit of $446 million, up 18% year-on-year.<\/p>\n
The interim dividend 2023 delivers on the Company\u2019s progressive dividend policy, reflecting the expectation of strong cash flow and long-term earnings visibility, while providing ample headroom to fund ongoing operations and investments for long-term growth. Since listing on Abu Dhabi Securities Exchange, and including this latest interim dividend payment, the Company will have distributed $1,366 million to shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"
Abu Dhabi, UAE \u2013 October 10, 2023: ADNOC Drilling Company PJSC (\u201cADNOC Drilling\u201d or the \u201cCompany\u201d) (ADX symbol: ADNOCDRILL \/ ISIN: AEA007301012) announces an interim dividend payment of $358 million, or 8.22 fils per share, for the first half of 2023. This represents another 5% year-on-year increase, in-line with the Company\u2019s progressive dividend policy. The […]<\/p>\n","protected":false},"author":3,"featured_media":1595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,39,130,87,15,119],"tags":[2258,1606,365],"class_list":["post-1594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-countries-en","category-business-economy-en","category-featured-en","category-gcc-en","category-press-releases","category-success-stories","tag-adnoc","tag-business-results","tag-uae"],"yoast_head":"\n