AIR Global Approves $0.28 Annual Dividend Per Share, Plans Buyback Up to $100 Million

AIR Global PLC (Nasdaq: AIIR) approved a $0.28-per-share annual dividend for fiscal 2027 and plans to repurchase up to $100 million in shares by December 2029, setting out a capital-return framework for the Dubai-based company.

AIR expects to make the dividend payments in quarterly installments, starting in connection with its first-quarter 2027 results. The company expects to announce those results in May. Later dividend declarations and payments will require board approval.

The planned buyback is subject to market conditions, capital requirements and regulatory approvals. AIR did not specify a repurchase schedule, and the plan permits purchases below the $100 million cap.

The framework links distributions to equity free cash flow. For distributions, AIR calculates equity free cash flow by deducting capital spending, interest expense, and lease principal and interest from operating cash flow.

AIR also projects net leverage of no more than 2.0x by December 2027. That figure is a company forecast. The new dividend framework marks a shift from AIR’s Sept. 4 outlook, which stated that the company had not previously paid cash dividends and did not anticipate a board declaration in the foreseeable future at that time.

The Dubai-based company operates across social inhalation and modern nicotine markets. Its brands include Al Fakher, Nameless, Al Aseel and Crown Switch.