Press releases, Reports & Disclosures for Borouge PLC

Borouge Plc, a leading petrochemicals company, reported a 16% year-on-year increase in Q4 2023 net profit to $288 million, bringing the full-year net profit to $1 billion. Despite challenging global market conditions, the company's focus on operational and commercial excellence resulted in strong performance with Q4 costs 16% lower year-on-year. The company's Value Enhancement Programme, aimed at revenue optimisation and cost efficiencies, achieved a positive impact of $607 million, surpassing its initial and revised targets of $400 million and $500 million respectively. Borouge management plans to distribute a dividend of 15.9 fils per share in 2024, equivalent to a 6.6% current dividend yield.

The text provides the principal business address of Borouge PLC in Abu Dhabi, UAE. It also mentions that the company has released its reports and consolidated financial statements for the year ending on 31 December 2023.

The Board of Directors of Borouge PLC held a meeting on 31 January 2024. During the meeting, the Board approved the company's audited financial statements for the year ending 31 December 2023. It also proposed a cash interim dividend distribution of USD 650,000,000 (equivalent to AED 2,387,125,000, approximately 7.9 fils per share) for the second half of the financial year. This proposal will be considered at the next general assembly meeting. The Board also invited the Company's annual general assembly to convene on 28 March 2024. The Board discussed recent developments related to the company's activities and projects. The meeting was notified to the Securities and Commodities Authority.

The Abu Dhabi Securities Exchange received a notification regarding a meeting of the Board of Directors of Borouge PLC. The meeting will be held via video conference at 4:30pm on 31 January 2024. The agenda includes reviewing the audited financial statements of the company for the fiscal year ended 31 December 2023, considering dividend distribution to shareholders for the second half of the fiscal year ended 31 December 2023, inviting the company's annual general assembly to convene, and discussing other general matters related to the company's activities and projects. This information was conveyed by Hazeem Sultan Al Suwaidi, the Chief Executive Officer of Borouge PLC. A copy of the notification was also sent to the Securities and Commodities Authority (SCA).

The text is an introduction to Borouge PLC's management discussion and analysis report for the third quarter and the first nine months of 2023, dated October 30th, 2023.

Borouge Plc, a leading petrochemicals company, reported a 22% increase in net profit for Q3 2023, amounting to $282 million. The company credited its strong production performance, targeted cost management, and revenue optimisation from its Value Enhancement Programme for its robust performance despite challenging global market conditions. The Value Enhancement Programme exceeded its target, delivering a positive impact of $420 million in the first nine months of 2023. Borouge has raised the programme's target to $500 million. The company distributed an interim dividend of $650 million in the third quarter and has committed to a dividend of $1.3 billion for the 2023 financial year.

The document is a report from Borouge PLC's directors, which includes a review report and interim condensed consolidated financial statements as of 30 September 2023. The report provides an overview of the company's financial performance and position during this period. This is intended for individuals interested in finance and investing.

On October 27, 2023, the Board of Directors of Borouge PLC held a meeting via video conference. They approved the company's financial results for the third quarter of the current financial year 2023. The Board also discussed recent developments related to the company's activities and projects. The information was shared by Hazeem Sultan Al Suwaidi, the Chief Executive Officer, and a copy was sent to the Securities and Commodities Authority (SCA).

The Board of Directors of Borouge PLC will hold a meeting via video conference at 3pm on Friday 27 October 2023. The meeting will discuss the approval of the financial results for the third quarter of the current financial year 2023, and other general matters relating to the company's activities and projects. The notification is signed by the Chief Executive Officer, Hazeem Sultan Al Suwaidi, and a copy is sent to the Securities and Commodities Authority (SCA).