share "Porridge" Provides dividends for dividends for investors of 6.7% annually
Abu Dhabi, March 10/ WAM/ The annual profit distributions of Bruges, the leading company in the field of petrochemicals, reached 6.7% based on the closing price on March 7, 2025, providing strong returns to investors and enhancing the attractive records of the company’s profit distributions.
The financial results of the company “Buruj” for 2024 confirm the company’s flexibility and high profitability, as the net profit reached 4.5 billion dirhams “1.24 billion dollars”, which represents an increase of 24% on an annual basis.
The company announced the achievement of a pioneering profit margin before deducting benefits, taxes, depreciation and consumption, amounting to 41%, which enhances its position as one of the most efficient and profitable companies in the petrochemical sector.
It is expected that Buruj shareholders will agree to pay distributions of cash dividends of 2.4 billion dirhams “650 million dollars” for the second half of 2024, during the next annual general assembly meeting of the company on April 7, 2025.
This final batch of 2024 contributes to raising the total profits of “Bruges” from last year to 4.8 billion dirhams “1.3 billion dollars”, which enhances the company’s share of the company in the region as an attractive investment opportunity.
The last day for the purchase of “Borouge” shares will be to qualify for profit distributions for the second half of 2024 is April 15, 2025, where profits will be distributed on April 28, 2025.
Hazim Sultan Al -Suwaidi, CEO of Buruj Company, said that the arrow of Buruj is an attractive opportunity for investors, as the company continues to provide strong profits, which confirms its commitment to create and enhance the value of its shareholders, and that based on its distinguished business model and its constant eagerness to enhance innovation, Borouj remains a strong competitor that attracts investors looking for growth opportunities.
He added that besides the strong profit distributions, it is expected that the “Buruj” growth path will witness an acceleration after the recently announced integration between “Buruj” and “Burialis” of “OMV”, to establish the “Bruges International Group” and to acquire the “Nova Chemical Company”.
These merger and acquisition deals will contribute to establishing the fourth largest urine company in the world, with a value of more than 220 billion dirhams “60 billion dollars”, which greatly enhances the global position of “Bruges”.
It is expected that the “Bruges International Group”, which was recently established from the margin of higher profit distribution, greater presence in the markets, advanced technological capabilities, and integration of productive and operational capabilities.
It is expected that the expansion of the trade and industrial processes of the “Bruges International Group” in North America, Europe, Asia, the Middle East and Africa will enhance the capabilities of the group and establish its position in the world petrochemical sector, allowing more growth opportunities, creating and enhancing the value of the group and its shareholders.
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