Highlights
ADNOC Distribution Shares are now Shari’a Compliant

UAE’s largest fuel and convenience retailer, ADNOC Distribution, today announced that its shares have now been certified as Shari’a-compliant. The move is based on a recent screening assessment made by The Unified Committee of Islamic Banks for Shari’a Screening of Equities – UAE, according to a statement from the Abu Dhabi Securities Exchange (ADX)- listed company. With this certification, brokerage arms of Islamic banks will now be able to trade ADNOC Distribution shares.

Saeed Mubarak Al Rashdi, Acting CEO, ADNOC Distribution
ADNOC Distribution’s Acting Chief Executive Officer, Saeed Mubarak Al Rashdi, expressed the company’s delight on this major certification and said that this paves the way for shareholders “with a preference for Shari’a compliant stocks to invest in ADNOC Distribution generating a broader investor base and contributing to increased liquidity for our shares.”
ADNOC Distribution recently reported strong first half results, including a 4.3% year-on-year increase in net profit and a 21% year-on-year increase in free cash flow (EBITDA minus capital expenditures).
READ: Abu Dhabi Adnoc Acquires 10% Stake in Vitol Oil-Storage Unit
In April 2019, ADNOC Distribution announced a new dividend policy, representing an increase of 63% in the annual dividend for 2019 (AED 2.39 billion) and 75% for 2020 (AED 2.57 billion) compared to 2018. The company expects to pay an interim dividend of AED 1.194 billion (half of the 2019 full year dividend) in October of this year, subject to board approval, according to the press release.
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines4 weeks ago
Al-Iktisaad, May 25
-
Banking & Finance2 months ago
How is National Bank of Oman Working Towards Creating a Robust Fintech Ecosystem?
-
OER Magazines4 weeks ago
OER, May 2025
You must be logged in to post a comment Login