RIYADH: Abu Dhabi-based nitrogen fertilizer producer Fertiglobe has raised the dividend payout for shareholders to $340 million for the second half of 2022, following an increase in earnings last year. 

A subsidiary of Abu Dhabi National Oil Company, or ADNOC, Fertiglobe recorded revenue of $3.31 billion in 2021, a 113 percent rise from 2020. The adjusted earnings in 2021 were up by 242 percent to $1.55 billion. 

The adjusted net income of the company in 2021 is $737 million, up from $66 million a year ago.