Press releases, Reports & Disclosures for National Marine Dredging Co.

The Board of Directors of the National Marine Dredging Company (NMDC) has released its 2023 Annual Report, which includes the audited financial statements for the year ending 31 December 2023. The report reveals that the company crossed the AED 2 billion net profit mark in 2023, doubling its net profit after merging with NMDC Energy in 2021. The company's strong financial performance is attributed to a commitment to strategic goals and growth momentum. NMDC reported total revenues of AED 16.7 billion in 2023, a 56% increase from 2022. Net profits also increased by 65% to AED 2.15 billion. The company's assets grew to AED 20.8 billion in 2023, up from AED 16.0 billion in 2022, with an order backlog valued at AED 54 billion. The report indicates NMDC's continued growth and participation in the Marine and EPC markets.

The Board of Directors of the National Marine Dredging Company (NMDC) held a meeting on 12 February 2024. The board approved the company's draft audited financial statements for the year that ended on 31 December 2023. They proposed a cash dividend distribution of AED 618,750,000, equivalent to 75% of the company's capital or approximately AED 0.75 per share for the financial year ended 31 December 2023. The proposal will be considered by shareholders in the upcoming general assembly meeting. The board also invited the company's annual general assembly to convene on Thursday, 7 March 2024 or any other date agreed by the Securities and Commodities Authority (SCA). The board discussed recent developments related to the company's activities and projects. They were informed of Eng. Hamad Al Amri's resignation as vice chairman, but he will continue to serve as a board member.

The Board of Directors of the National Marine Dredging Company PJSC will hold a meeting via video conference on Monday, 12 February 2024 at 4 p.m. The agenda includes considering the company's draft audited financial statements for the financial year ended 31 December 2023, considering the cash dividend distribution to the shareholders for the same financial year, inviting the company's annual general assembly to convene and determining its agenda and date, and discussing general matters related to the company's activities and projects. The Securities and Commodities Authority (SCA) will also receive a copy of the meeting's details.

The National Marine Dredging Company has been awarded a new project, the DAS Island Reclamation Project for TAMKEEN, by the Abu Dhabi National Oil Company (ADNOC). The total value of the project is USD 56,907,000.

The National Marine Dredging Company has been awarded a new project by the Abu Dhabi National Oil Company (ADNOC) for the construction of the AL NOUF Artificial Island. The total value of the project is USD 136,786,703.41.

The National Marine Dredging Company has been awarded a contract by National Projects & Construction LLC (NPC) for bridge construction and marine works as part of the first phase of the Tilal Al Reem project. The total value of the contract is AED 186,492,139.93. The announcement was made by the Market Operations & Surveillance section of the Abu Dhabi Securities Exchange.

The Board of Directors of the National Marine Dredging Company PJSC held a meeting on Thursday 14 December 2023 at 4pm at the company's offices. The Board discussed general matters related to the company's activities and projects. This information is communicated by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul, and a copy of this notice has been sent to the Securities and Commodities Authority (SCA).

The Board of Directors of the National Marine Dredging Company PJSC will hold a meeting on Thursday, 14th December 2023 at 4pm at the company's offices. The meeting will discuss general matters related to the company's activities and its projects. This information was disclosed by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul, to the Abu Dhabi Securities Exchange and a copy was sent to the Securities and Commodities Authority (SCA).

The Abu Dhabi Securities Exchange has announced the appointment of Mr. Cornelis Adriaan De Bruijn as the CEO of the Dredging and Marine Platform within the NMDC Group. This information is disclosed as part of the company's commitment to transparency and regulatory compliance. A copy of the announcement has also been sent to the Securities and Commodities Authority.