Board approves 5.14 fils dividend after fuel volumes reach a record 7.75 billion litresLast updated: August 05, 2026 | 09:233 MIN READSuppliedDubai: ADNOC Distribution reported a record net profit of $568 million for the first half of 2026, up 59% from a year earlier, supported by higher fuel sales, network expansion, inventory gains and growth across its non-fuel retail business.The company’s board also approved a second-quarter dividend of 5.14 fils per share, equivalent to $175 million, which is scheduled to be paid on September 1.Get updated faster and for FREE: Download the Gulf News app now - simply click here.Shareholders must own the stock by August 12 to qualify for the payout. The shares will trade without the dividend entitlement from August 13, with the record date set for August 14.Fuel volumes reach record highADNOC Distribution sold a record 7.75 billion litres of fuel during the first six months of the year, supported by demand from retail and commercial customers.Its network across the UAE, Saudi Arabia and Egypt expanded by 11% to 1,045 service stations.Gross profit increased 29% to $1.16 billion, while reported earnings before interest, tax, depreciation and amortisation rose 39% to a record $786 million.Underlying EBITDA, which excludes certain one-off factors, increased 14% to $603 million.Despite a dynamic macroeconomic environment, ADNOC Distribution delivered another record performance in the first half of 2026, demonstrating the resilience of our diversified business model and the strength of our growth strategy. We are scaling higher-margin opportunities in non-fuel retail while continuing to strengthen our core fuel business.Eng. Bader Saeed Al Lamki, Chief Executive Officer of ADNOC DistributionNon-fuel retail profit rises 12%Gross profit from non-fuel retail increased 12%, supported by higher customer footfall, more transactions and a broader food and convenience offering.The company continued to expand The Hub by ADNOC, a roadside retail format with a footprint three times larger than a traditional service station. Locations operating under the concept are expected to generate annual EBITDA of $30 million by 2030.ADNOC Distribution also entered a partnership with Americana Restaurants International in May to open up to 200 quick-service restaurants across its service station network.The agreement will bring restaurant brands from Americana’s portfolio to ADNOC Distribution locations as the company expands revenue beyond fuel sales.EV charging network expandsADNOC Distribution opened what it described as the region’s largest electric vehicle charging hub on the E11 highway between Abu Dhabi and Dubai during the first half.Its E2GO charging network expanded 35% from a year earlier, while the amount of electricity sold through the network more than doubled.Electric vehicles charged at ADNOC Distribution stations travelled 27.4 million low-emission kilometres during the period, twice the distance recorded a year earlier.South Africa deal progressesADNOC Distribution signed a definitive agreement in July to acquire Shell’s downstream business in South Africa at an implied enterprise value of $1 billion.The proposed transaction remains subject to regulatory approvals and is expected to be completed in 2027.The company expects the acquisition to increase earnings per share by 6% in the first full year following completion.Dividends since IPO approach $5.8 billionADNOC Distribution’s dividend policy provides for an annual payout of $700 million or at least 75% of net profit, whichever is higher.Once the second-quarter dividend is paid, the company will have distributed an estimated $5.8 billion, equivalent to Dh21.5 billion, to shareholders since its initial public offering.Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.