Abu Dhabi – Mubasher: Hazeem Al Suwaidi, CEO of Abu Dhabi Polymers Company Ltd “zodiac“The company intends to implement a strong dividend policy in order to achieve a return on shareholders from free distributable cash flows, while maintaining an investment grade credit profile, after listing on the Abu Dhabi Stock Exchange.
Al-Suwaidi explained that the company’s dividend policy will depend on the semi-annual payments, which take place in March and September, according to Al-Ittihad newspaper..
He said that the company expects to pay fixed profits of 3.5 billion dirhams in 2022, of which 1.2 billion dirhams
for the second quarter and 2.3 billion dirhams for the second half of 2022.
He continued, “We intend to pay fixed dividends of at least 4.7 billion dirhams in 2023.”.
He explained that the company achieved revenues of 20.2 billion dirhams, and profits of 5.5 billion dirhams during 2021.
Al-Suwaidi expected a strong increase in the demand for Borouge products, due to the major global trends with the presence of new applications.
Hazeem Al Suwaidi, CEO of Abu Dhabi Polymers Company Limited (Borouge), announced on May 19 that the company’s initial public offering aims to enhance the company’s available liquidity and access new sources of capital..
He pointed out that the offering contributes to accelerating the company’s business and supports the completion of expansion plans, business growth and productivity.
Al-Suwaidi expected that the offering would contribute to providing great profit opportunities for investors, and enhancing their role in pumping new investments into the growth of the local economy..