ADNOC Gas plc

The Board of Directors of ADNOC Gas plc held a meeting on 14th November 2023 via video conference. The Board has approved the company's financial results for the third quarter of 2023 and agreed to distribute interim cash dividends to the company's shareholders for the first half of the financial year 2023. The total amount of dividends is USD 1,625,102,948, equivalent to AED 5,968,190,576, or approximately 7.776 fils per share. The last entitlement date is 22nd November 2023, the ex-dividend date is 23rd November 2023, the shareholders' registry closing date is 24th November 2023, and the payment date is 14th December 2023.

The text appears to be a management discussion and analysis report from ADNOC GAS plc, detailing the company's financial results for the third quarter and year to date in 2023. The report was published on November 14, 2023.

The text provides the interim condensed consolidated financial statements of ADNOC GAS PLC (formerly ADNOC GAS LTD.). These statements cover the period from the company's date of incorporation on 8 December 2022 to 30 September 2023.

ADNOC Gas has announced that it will distribute an inaugural interim cash dividend of $1.625 billion in December 2023, with a further final cash dividend of the same amount expected for the financial year 2023 in Q2 2024. The dividend payment is supported by ADNOC Gas' robust future cash flows. The interim dividend will be paid to shareholders who own ADNOC Gas shares on the record date of 24 November 2023. The company's CEO, Ahmed Alebri, highlighted the dividend as a reflection of their strong financial performance and commitment to shareholder returns.

ADNOC Gas reported a 13% quarter-on-quarter (QoQ) increase in its Q3 2023 net income, reaching $1.1 billion. This demonstrates the company's financial resilience. The company's QoQ revenue also grew by 8% to $5.8 billion, highlighting its ability to capitalize on growth opportunities. The nine-month net income of $3.4 billion is supported by growth in production and sales volume of liquids. The board approved an inaugural interim cash dividend of $1.625 billion, and the free cash flow generated in the first nine months is sufficient to cover the full-year dividend of $3.25 billion.

The Board of Directors of ADNOC Gas plc is set to hold a meeting on Tuesday, 14 November 2023 at 3pm via video conference. The meeting will cover three main points: approval of the company's financial results for the third quarter of the current financial year 2023; consideration and approval of the company's interim cash dividends distribution to shareholders for the first half of the current financial year 2023; and discussion of general matters relating to the company's activities and its projects. The announcement was made by the Acting Chief Executive Officer, Ahmed Mohamed Alebri.