Dana Gas Board recommends 4.5 fils cash dividend for H2 2021

Dana Gas Board recommends 4.5 fils cash dividend for H2 2021

WAM: The Board of Directors of Dana Gas has announced that it will recommend the distribution of a 4.5 fils per share cash dividend for the second half of 2021, to bring the total dividend for the year ended 31st December 2021 to 8 fils per share, a 45 percent increase compared to 2020.

For the full year 2021, the Company achieved a net profit of AED1.2 billion ($317 million). On an adjusted basis, it posted a net profit of AED469 million ($128 million) when one-off non-cash impairments and other income were excluded.

Gross Revenue reached AED1.7 billion ($452 million), up 30 percent year on year, supported by higher oil prices and production in the KRI. The Company’s collections in 2021 were the highest ever at AED1.4 billion ($377 million), and the year-end cash position stood at AED678 million ($185 million).