TE24 Business Desk:
RIYADH – Abu Dhabi-based chemical maker Fertiglobe reported strong second-quarter earnings and raised its first-half dividend to $750 million.
Abu Dhabi National Oil Company and its OCI joint venture headquartered in the Netherlands posted sales of $1.5 billion in the second quarter, a 105% increase from the same period last year.
Second-quarter net income rose 270% to $438 million. Q2 2022 is a quarter of strong performance, supported by a favorable pricing environment, driven by favorable pricing conditions from Q1 2022 to the current quarter,” he said of Fertiglobe. CEO Ahmed El-Hoshi said.
We are pleased to announce a dividend of $750 million for the first half of 2022, driven by strong earnings, healthy cash conversions and our strong capital structure, he added.
