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ADNOC L&S
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Dividend Policy

The Board has adopted a dividend policy for the Group which will look to maximize shareholder value and reflect its strong earnings potential and cash flow generation, while allowing it to retain sufficient capital to fund ongoing operating requirements and to invest in our long-term growth (including opportunistic capital expenditures and acquisitions).

The Company’s ability to pay dividends is dependent on a number of factors, including:

  • The availability of distributable reserves, the Company’s capital expenditure plans, the Company’s financial framework and other cash requirements in support of achieving our strategy in future periods

  • Existing and future debt finance capacity, debt covenants, and other factors impacting continuing availability of credit and compliance with existing and anticipated financing terms

  • Market conditions, the then-current operating environment in our markets and the outlook for our business

  • Levels of expected future profits and our business plan (including our ability to perform in accordance with the expectations in our business plan)

  • The discretion of our Board, based on the outlook for our business, and

  • Approval of any dividend payment at a general meeting of our shareholders

Subject to the above, the Company intends to pay dividends twice each financial year, with an initial payment of the first-half results being paid in the fourth quarter of that year, and a second payment following second-half results being paid in the second quarter of the following calendar year.

While we intend to pay dividends in respect of the Shares, there can be no assurance that we will do so. Any decision to declare and pay dividends in the future will be made at the discretion of our Board of Directors and will depend on, among other things, applicable laws and regulations, our results of operations, financial condition, cash requirements, contractual restrictions, our future projects and plans and other factors that our Board of Directors may deem relevant.