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Dana Gas Board to pay interim cash dividend of 4.5 fils per share for H1 2022

The Company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices.

Dana Gas, the Middle East’s largest regional private sector natural gas company, announced today that its Board of Directors has approved an interim dividend payment to shareholders for the first six months of 2022 of 4.5 fils per share, equivalent to Dh 315 million, for distribution by the October 21, 2022.

Hamid Jafar, chairman of the Board, said: “Today’s interim dividend announcement reflects our ongoing confidence in the business and demonstrates our robust operational and financial performance. High energy prices have contributed to our strong cash flow. When combined with continued steady production and effective cost control, we are able to continue to reward our shareholders with another interim dividend payment.”

The company previously announced at its H1 2022 results that the company generated a net profit of Dh407 million ($111 million) in the first six months of the year, an 82 per cent increase compared to an adjusted net profit in H1 2021. The Company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices, a continued commitment to maintaining a low-cost base and strong operational performance in the KRI.

business@khaleejtimes.com