Photo : Abu Dhabi Media Office
Borouge, a big company in the petrochemical business, which is part of ADNOC Group, has shared some great news for its shareholders. The company has announced a dividend of 6.7% for the year 2024. This means that investors will get good returns on their investments. This high dividend shows that Borouge is strong and reliable in giving value to its shareholders.
In 2024, Borouge made AED 4.5 billion (about US$ 1.24 billion) in profit, which is 24% higher than the year before. The company also showed an excellent profit margin of 41%, making it one of the top players in the petrochemical industry.
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At their Annual General Meeting (AGM) on April 7, 2025, shareholders are expected to approve a cash dividend of AED 2.4 billion (around US$ 650 million) for the second half of 2024. This will bring the total dividend for the year to AED 4.8 billion (US$ 1.3 billion). Shareholders who want to receive the final dividend must hold their shares by April 15, 2025. Payments will be made on April 28, 2025.
Hazeem Sultan Al Suwaidi, CEO of Borouge, said: “It is an exciting time for Borouge’s shareholders as we keep providing good dividends. Our strong business and ongoing innovation make Borouge a good choice for investors.”
Borouge’s future looks even brighter after its merger with OMV’s Borealis and the purchase of NOVA Chemicals. This will create a new company called Borouge Group International, which will become the world’s fourth-largest company in making polyolefins (plastics and chemicals). The new company will be worth over AED 220 billion (US$ 60 billion), increasing Borouge’s reach and influence.
Borouge Group International will benefit from a larger market, new technology, and better products. With operations in North America, Europe, Asia, the Middle East, and Africa, the company will have a stronger position in the global petrochemical industry. This will bring more opportunities for growth and more value for its shareholders.
With these new changes, Borouge is set to become an even bigger player in the global market and continue delivering value to its shareholders.
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