ADNOC Listed Firms Target $43 Billion in Dividends by 2030

Abu Dhabi National Oil Company (ADNOC) unveiled an ambitious plan to distribute AED158 billion ($43 billion) in dividends across its six publicly listed subsidiaries by 2030—nearly twice the total amount paid since its first IPO in 2017.

Announced at ADNOC’s inaugural Investor Majlis in Abu Dhabi, the initiative highlights ADNOC’s commitment to shareholder returns, disciplined growth, and the integration of artificial intelligence (AI) to boost operational efficiency. The six ADNOC-listed firms—ADNOC Distribution, ADNOC Drilling, ADNOC Gas, ADNOC Logistics & Services (L&S), Borouge, and Fertiglobe—collectively represent AED550 billion ($150 billion) in market capitalization and nearly 40% of all dividends paid on the Abu Dhabi Securities Exchange (ADX).

Under the new strategy, ADNOC Distribution, ADNOC Gas, and ADNOC L&S will join ADNOC Drilling in paying quarterly dividends starting in 2025–2026, offering investors more frequent returns. ADNOC’s broader vision ties these payouts to ongoing efforts to expand upstream capacity, double chemicals and LNG production, and leverage AI to streamline operations and reduce costs.

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Group CEO Dr. Sultan Ahmed Al Jaber emphasized that the plan aligns with the UAE’s national growth objectives and ADNOC’s commitment to transparency, governance, and sustainable value creation. “Our target to distribute AED158 billion in dividends gives investors clear visibility through 2030,” Al Jaber said, highlighting ADNOC’s “confidence and steadfast commitment to long-term value.”

Company-Specific Highlights

• ADNOC Distribution (ADX: ADNOCDIST): Extended its dividend policy to 2030, targeting AED18 billion ($4.9 billion) in payouts with quarterly distributions from 2026. Station expansion raised to 1,150 by 2028, and non-fuel retail transactions expected to double by 2030.

• ADNOC Drilling (ADX: ADNOCDRIL): Boosted its 2025 dividend floor by 27% to AED3.7 billion ($1 billion), with a cumulative AED25 billion ($6.8 billion) expected by 2030. The firm is central to ADNOC’s unconventional gas expansion and now uses AI to cut non-productive drilling time by 20%.

• ADNOC Gas (ADX: ADGAS): Announced AED90 billion ($24.4 billion) in dividends through 2030 and a new AED147 billion ($40 billion) gas supply agreement with Ruwais LNG. Despite a weaker oil price environment, Q3 2025 results are projected to rise 5% year-on-year.

• ADNOC L&S (ADX: ADNOCL&S): Increased its 2025 dividend floor to AED1.2 billion ($325 million) and expects AED8.1 billion ($2.2 billion) total through 2030. The company also signed a 50-year AED4.8 billion ($1.3 billion) port contract with TA’ZIZ to expand chemicals logistics.

• Borouge (ADX: BOROUGE): Maintained a 2025 dividend floor of 16.2 fils per share, with AED27 billion ($7.3 billion) total payouts projected through 2030. The upcoming Borouge Group International (BGI) merger with OMV and Nova Chemicals will form the world’s fourth-largest polyolefins producer, targeting AED26 billion ($7 billion) in EBITDA.

• Fertiglobe (ADX: FERTIGLOBE): Announced total shareholder returns of at least AED1.02 billion ($277 million) in 2025, up 25% from guidance, alongside rising EBITDA and expanded AdBlue and urea output for Europe. AI-driven efficiency gains are expected to add AED92 million ($25 million) in annual EBITDA by 2030.

The dividend expansion underscores ADNOC’s transformation from a state-owned operator into a global energy investment powerhouse. With AI and digital transformation embedded across its portfolio—from predictive maintenance (Neuron 5) to logistics optimization (ILMS and Smart Port)—ADNOC aims to become one of the world’s first AI-native energy groups.

Held at the Abu Dhabi Energy Center with over 500 stakeholders, the Investor Majlis showcased ADNOC’s evolving investor engagement strategy and its emphasis on predictable, technology-driven value creation.

By Charles Kennedy for Oilprice.com

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