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ADNOC Distribution Hosts Virtual Annual General Assembly, Announces Dividend Increase To AED2.57 Billion In 2020 |
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ADNOC Distribution announced that its dividend policy will see the 2020 dividend increase to AED2.57 billion, an increase of 7.5 percent compared to 2019. The announcement was made on Tuesday during the company's General Assembly meeting which was held remotely via video conference as part of the ADNOC Distribution's measures to ensure the safety and well-being of its shareholders, in line with the UAE Government’s social distancing policies to help combat the spread of COVID-19. Speaking at the General Assembly meeting, Dr. Sultan Ahmed Al Jaber, Chairman of ADNOC Distribution, assured shareholders that the company was focused on ensuring the well-being of customers and employees and had put in place a number of precautionary steps to protect their health. In his opening remarks, Dr. Al Jaber commended the swift and decisive actions taken by the UAE’s wise leadership, and the dedicated efforts of the National Emergency Crisis and Disasters Management Authority, Ministry of Health, and Prevention, Ministry of Interior, Ministry of Defence, health authorities across the UAE and other government agencies. He also recognised the commitment and dedication of the UAE’s healthcare professionals who are working tirelessly to keep residents safe and healthy in light of the global COVID-19 pandemic. "In these unprecedented times, it is vital that we continue working toward the delivery of our promises to customers, shareholders and employees. To maintain the highest standards of health and hygiene, ADNOC Distribution is committed to applying the highest industry standards and ensuring our station staff are equipped with personal protective equipment such as gloves, face masks and hand sanitizer, with additional supplies available for customers. Our convenience stores and fuel stations are cleaned and sanitised daily," he added. "We are encouraging customers to utilise our contactless methods of payment, particularly through the ADNOC Distribution App, which allows minimal-to-no interaction with attendants and appropriate social distancing," Dr. Al Jaber noted. He added that customers are able to identify the station they are at, select their fuel pump, choose their preferred fuel and the amount they would like, all without leaving their car. The ADNOC Dist app communicates directly to the station pump, and the attendant can fill up the customer’s vehicle and payment is deducted from the customer’s account within the App all without the need to interact. Dr. Al Jaber said that ADNOC Distribution’s focus on customer experience was an integral part of the company’s success in 2019. "We engaged with 14,000 customers throughout the year, through surveys and focus groups to capture their needs and use their feedback to form the backbone of a number of our campaigns; the launch of ADNOC Rewards loyalty programme was one key initiative." "We launched our new ‘ADNOC On the go’ neighborhood station and the first next-generation ADNOC Oasis convenience store, offering baked goods, made-to-order sandwiches and premium coffee in addition to new seamless digital experiences that allow customers to ‘tap and go’ at self-checkout points and integrated systems for payments and drive-through ordering," he continued. Dr. Al Jaber added, "As we continue our local and international expansion efforts in line with our growth strategy, we also recognize our responsibility in supporting the local economy and will continue to identify prospects as we expand to develop jobs for UAE nationals, select local suppliers, support social initiatives and encourage local procurement to increase local value-added input." In 2019, ADNOC Distribution successfully increased its In-Country Value, ICV, (procurement awarded to local suppliers) and the company will continue to identify opportunities to further increase spending on local suppliers and enhance its ICV contribution to the UAE economy. During the formal agenda items at the Annual General Assembly, ADNOC Distribution shareholders approved a second and final dividend payment of AED1.194 billion (9.55 fils per share) for the year ended 31st December 2019. |
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