ADNOC Distribution Approves $700 Million Dividend and Unveils Strategic Growth Plans
Abu Dhabi, The Europe Today: ADNOC Distribution has announced shareholder approval of all agenda items at its Annual General Assembly Meeting (AGM), including a final cash dividend of $350 million (AED 1.285 billion) for the second half of 2024, to be distributed in April 2025. This brings the company’s total annual dividend for 2024 to $700 million (AED 2.57 billion), reflecting a 6.1% yield based on the closing share price of AED 3.39 on March 25, 2025.
Dr. Sultan Ahmed Al Jaber, Chairman of ADNOC Distribution, highlighted the company’s record-breaking financial performance in 2024, stating, “We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success. For the second consecutive year, our EBITDA surpassed $1 billion, driven by record fuel volumes—up nearly 9%—and sustained non-fuel retail growth.”
In 2024, ADNOC Distribution recorded an EBITDA of $1.05 billion (AED 3.86 billion), marking a 5% year-on-year increase, supported by strong domestic growth, expanding international platforms, and contributions from operations in Saudi Arabia and Egypt. The company’s free cash flow totaled $756 million (AED 2.78 billion) in 2024. Since its IPO in 2017, ADNOC Distribution has distributed $4.8 billion (AED 17.4 billion) in dividends, delivering a 92% total shareholder return.
Strategic Expansion Plans for 2025 and Beyond
Bader Saeed Al Lamki, CEO of ADNOC Distribution, reaffirmed the company’s commitment to future mobility and retail expansion. “ADNOC Distribution is dedicated to enhancing convenience retail and expanding internationally in high-growth areas,” he said.
Key targets for 2025 and beyond include:
- Expanding the service station network to 1,000 locations by 2028, with 40-50 new stations planned in 2025—30-40 of which will be in Saudi Arabia.
- Installing approximately 100 additional fast and super-fast EV charging points across the UAE in 2025, as part of the company’s E2GO expansion to 500 charging stations by 2028.
- Increasing non-fuel transactions by 50% and growing ADNOC Oasis convenience stores by 25% by 2028.
- Scaling directly-operated franchise stores to 50 or more locations, optimizing property yield by 2.5 times compared to traditional rental models.
Saudi Arabia Expansion and Digital Transformation
In 2024, ADNOC Distribution reached 100 service stations in Saudi Arabia by leveraging a smart Dealer-Owned, Company-Operated (DOCO) model. By 2029, the company aims to operate at least 300 stations in the Kingdom, positioning itself among the top five fuel and convenience retailers in Saudi Arabia.
For 2025, ADNOC Distribution has set a CAPEX target of $250-300 million, reinforcing its digital transformation initiatives through AI-driven data analytics and personalized customer engagement.
As part of its “Year of Community” initiative, the company is redefining service stations as community hubs, aiming to double the number of properties occupied by top international and regional food and beverage brands by the end of 2025.
With its robust financial performance and ambitious expansion strategy, ADNOC Distribution remains committed to solidifying its position as the UAE’s leading multi-energy mobility retailer while driving international growth.
