Abu Dhabi – Mubasher: Borouge recorded net profits amounting to $1.23 billion in 2024, up 24% year-on-year (YoY) from $1 billion, according to the financial results.
The revenues enlarged to $6.02 billion last year from $5.79 billion in 2023, while the basic and diluted earnings per share (EPS) inched up to $0.04 from $0.03.
Borouge registered total assets valued at $8.70 billion as of 31 December 2024, an annual drop from $8.94 billion.
Results for Q4-24
In the fourth quarter (Q4) of 2024, the net profits increased by 15% YoY to $331 million, while the revenues jumped by 8% YoY to $1.62 billion.
On a quarterly basis, the Q4-24 profits rose by 1% from $328 million, whereas the revenue climbed from $1.60 billion.
Dividend Payout for H2-24
The board members of Borouge recommended cash dividends worth $650 million (AED 2.38 billion) for the second half (H2) of 2024, bringing the total full-year dividend payout to $1.30 billion.
The ADX-listed group will distribute a final dividend of 7.94 fils per share in April 2025.
To date, the company has distributed $2.90 billion in dividends since its initial public offering (IPO) in 2022, anchoring its commitment to create value and deliver significant shareholder returns.
Hazeem Sultan Al Suwaidi, CEO of Borouge, said: “With Borouge delivering on all fronts, we are pleased to announce our intention to maintain a $1.3 billion dividend for the 2025 financial year, representing a 6.30% current dividend yield.”
“As we enter a period of accelerated growth, the company remains fully committed to generating attractive shareholder returns in the years ahead,” Al Suwaidi highlighted.
