Borouge announces increased dividend

Borouge shareholders have approved a final 2024 dividend and 2.5 per cent share buyback programme at their Annual General Meeting (AGM).

- Somshanker Bandyopadhyay [e-mail]

Borouge Group International, a $60 billion global polyolefins leader, will be formed after the proposed combination of Borouge and Borealis, and the acquisition of Nova Chemicals. This “has been designed to deliver consistently strong dividends and significant near-term growth, and will have a production capacity of 3.6 million tonnes, nearly tripling Borouge’s current capacity,” a statement said.

Borouge shareholders approved a $650 million (7.94 fils per share) final dividend for 2024 at the AGM, bringing the total annual payouts to $1.3 billion (15.88 fils per share). The last date for shareholders to be eligible for the dividend is April 15, 2025, with distribution on April 28, 2025.

In addition, Adnoc and OMV, as the main shareholders in Borouge Group International, have announced their intention, post closing of the transaction, to offer an attractive estimated total dividend of $2.2 billion, equivalent to a minimum of 16.2 fils per share dividend, annually from 2026 to 2030.

Share buyback