Borouge 2025 dividend reaches $1.3bn

Shareholders in Abu Dhabi petrochemical company Borouge have approved a final 2025 dividend of $658 million, bringing last year’s total payout to $1.3 billion.

The final dividend will be paid in May to shareholders of record as of April 17, the company said in a statement to the Abu Dhabi Securities Exchange. 

The company has paid $4.9 billion in dividends since its June 2022 listing.

Borouge chairman Dr Sultan Ahmed Al Jaber said the company is evolving into a global polyolefins powerhouse as it expands across North America, the Middle East and Europe.

On March 31, XRG, the international investment arm of state oil company Adnoc, and Austrian energy group OMV completed the combination of Borouge and Borealis into Borouge Group International and the acquisition of Canada-headquartered Nova Chemicals Corporation, creating a $60 billion joint venture.

Borealis is owned 25 percent by Adnoc and 75 percent by OMV, while Borouge is owned 54 percent by Adnoc and 36 percent by Borealis.

Borouge in February reported an 11 percent decline in net profit last year to $1.1 billion, after revenue slipped 3 percent to $5.8 billion.

Amid the US-Israeli conflict with Iran, the company confirmed multiple fires broke out at the Ruwais industrial area this week due to falling debris. The blazes were brought under control. Damage assessment and repairs are underway.

Borouge’s shares closed 0.8 percent lower at AED2.61 on Tuesday, down nearly 2 percent since the start of the year.

Further reading:

• Adnoc and OMV seal deal for $60bn chemicals JV
• OMV to profit from Borouge-Borealis merger with Adnoc
• Proposed Adnoc-OMV entity targets Mubadala unit