The BBLC company announced its shareholders ’approval to pay the final dividends for 2024 at a value of 2.4 billion dirhams, equivalent to 7.94 money for the share, and the re -purchase of 2.5% of its shares, during the annual general assembly meeting, which witnessed an actual presence of more than 250 contributors from individual investors, institutions and analysts.
This came after the announcement of the establishment of the “Borouj International Group”, which will become a leading global company in the production of poly Oilin with a value of 220 billion dirhams.
The Minister of Industry and Advanced Technology, Managing Director and CEO of “ADNOC” and its group of companies, Chairman of the Board of Directors, Dr. Sultan Ahmed Al -Jaber, affirmed the firm commitment to “Bruges” to achieve great returns for shareholders.
He said that in conjunction with the stage of the qualitative growth in Bruges, the “Bruges International Group” will become one of the largest petrochemical companies in the world, in terms of the volume of production, flexibility and innovation, as “Buruj” intends to raise its profits to at least 16.2 fils per share in 2025, to form the approved basis for distributions of profits of “Bruges International Group” until 2030.
Al -Jaber added that, based on the price of the current share of the company “Buruj”, these distributions achieve a cumulative return of no less than 40%, during the period between 2025 and 2030, which is the highest in the state, pointing out that these steps confirm the keenness of “ADNOC” and “OMV” to establish a giant entity that enjoys a broader presence and better capabilities, and focuses on continuing growth while providing attractive returns that exceed the aspirations of The shareholders, and exceed the expectations of investors.
The Bruges International Group will contribute, after the merger between Buruj and Burialis and the acquisition of the Nova Chemical Company, to providing strong profits and achieving significant growth near -term in the production capacity to reach 13.6 million tons, equivalent to three times the current production capacity of the company.
On the sidelines of the annual meeting of the Public Association of Public, Al -Jaber participated in a discussion session with the participation of shareholders, analysts and potential investors, where the future growth and expansion strategies that the company planned to implement were reviewed. April 15, 2025 will be the last day for shareholders to qualify for profit distributions, provided that the actual distribution takes place on April 28, 2025. ADNOC and OMV have announced, as they are the main shareholders in the Bruges International Group through the new entity, their intention to provide profit distributions exceeding eight billion dirhams after completing the deal, or at least 16.2 fils per share Annually, during the period from 2026 to 2030.
The profit distributions are supported by a strong public budget, high profitability levels and the great free cash flow, in addition to strong support from “ADNOC” and “OMV”.
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