Shareholders "Porridge" They agree to dividends of 2.42 billion dirhams for the first half of 2025
Abu Dhabi, on September 1 / WAM / Borouge BLC confirmed today, the approval of the shareholders during the General Assembly meeting held on August 29 to distribute a phased profits of 2.42 billion dirhams “660 million dollars” equivalent to 8.1 fils per share, which reflects the strong performance achieved by “Bruges” during the first half of the year, supported by strong pricing bonuses, and the management of the costs, and the costs of the costs, Stock sales.
During the meeting, the company renewed its intention to distribute total profits of 16.2 fils per share for 2025, up from 15.88 fils during the year 2024, with the expectation that the final share of 8.1 fils per share during the first quarter of 2026 is expected.
Bruges has adopted since its first public subscription during the month of June 2022, profits distributions of a total value of 15.57 billion dirhams, equivalent to “4.24 billion dollars” with a total return of 30%.
The company also demonstrated its confidence in its future horizons by buying 141 million shares, as part of the re -purchase program that was approved at the annual general assembly meeting during the month of April of this year.
Hazim Sultan Al -Suwaidi, CEO of Buruj Company, said that “Buruj” has a full record of achieving strong and sustainable returns for shareholders, supported by its strong operational operations, cost management discipline and stable pricing margins, and with the aspiration of the proposed establishment of the Bruges International Group and expected to be completed during the first quarter of 2026, the company continues to focus on establishing its distinguished performance.
Bruges achieved a net profit during the first half of this year, at a value of 1.74 billion dirhams, equivalent to “474 million dollars”, driven by the size of strong sales, pricing bonuses, and the disciplined management of costs.
Bruges continues its growth and strategic expansion, as the completion rate in the “Borouge 4” project exceeded 90%, and will add production capacity of 1.4 million tons annually upon completion by the end of 2026, which will contribute to achieving a great added value to the shareholders.
It is also expected to complete the establishment of the “Bruges International Group” during the first quarter of 2026, where work is currently underway to deposit organizational documents and develop integration plans.
The Bruges International Group is scheduled to become a leading global entity in the petrochemical sector of 220 billion dirhams, equivalent to “60 billion dollars” and the fourth largest producer of poly Olivein in the world.
The new group intends to maintain a minimum level of annual distributions of 16.2 fils per share until 2030, pledge to obtain the necessary approvals.
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