Abu Dhabi – Mubasher: The board of Fertiglobe approved an interim cash dividend of $150 million (AED 551 million) for the first half (H1) of 2024, according to a press release.
The group will pay 6.60 fils per share to shareholders of record as at 10 October 2024.
In addition to the approved dividend, Fertiglobe will have paid $2.42 billion in dividends since its initial public offering (IPO) in October 2021, representing one of the highest dividend yields and total return metrics in its sector.
The annualised dividend yield exceeds 5%, supporting the company’s commitment to delivering strong returns to shareholders.
Ahmed El Hoshy, CEO of Fertiglobe, commented: “This dividend is supported by active value creation initiatives launched in 2024, as we continue to make significant progress on our key strategic objectives.”
“Looking ahead, we remain focused on digitising our operations, harnessing the power of AI and driving innovation to boost cost efficiencies that will continue to generate sustainable and long-term value for our shareholders,” El Hoshy added.
In the six-month period that ended on 30 June 2024, Fertiglobe posted revenues of $1.04 billion, with adjusted net profit valued at $134 million and free cash flows of $225 million.
