Adnoc Distribution shareholders approve proposal to increase dividend
The company made a net profit of Dh2.43bn in 2020, a 13 per cent increase on the prior year despite a 24 per cent fall in revenue to Dh16.13bn as movement restrictions were put in place during the year to halt the spread of Covid-19. The company finished the year with Dh2.8bn of cash and cash equivalents and a further Dh2.8bn in unutilised credit facilities. Despite the pandemic, it opened 64 new stations last year, a ten-fold increase on 2019. This included 38 of its 'Adnoc On the Go' model, which have a smaller footprint allowing it to offer fuel and retail in areas where traditional statio...
Source: thenationalnews.com