Abu Dhabi – Mubasher: Borouge has announced interim cash dividends worth $325 million (AED 1.20 billion), representing 6.70% of the capital, for the first half (H1) of 2022.
The petrochemical firm will distribute 3.97 fils per share on 17 October, according to a bourse filing.
Meanwhile, the ex-dividend and record dates will be on 30 September and 3 October, respectively.
Borouge is expected to pay out a total of $975 million (AED 3.60 billion), equivalent to 11.91 fils per share, as dividends for 2022.
Hazeem Sultan Al Suwaidi, CEO of Borouge, said: “Borouge reported strong maiden [H1-22] results with double-digit growth in revenue, significant sales volume growth, and strong cash flow generation.”
In the first six months (6M) of 2022, the UAE-based company posted a 16.40% year-on-year (YoY) surge in revenue to $3.50 billion (AED 12.70 billion), backed by an 8.60% rise in sales volume and a 4.10% growth in average price per tonne.
