Dana Gas to pay $85m H1 dividend

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The dividend will be paid by 21 October 2022. (Dana Gas)
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  • The company posted a net profit of $111 million in the first six months of the year, an 82 percent 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,

Sharjah, UAE–  Dana Gas on Thursday announced Thursday that it will pay shareholders a dividend of AED315 million ($85 million) or 4.5 fils per share for the first six months of 2022 by 21 October 2022.

The Company previously announced at its H1 2022 results that the Company generated a net profit of AED407 million ($111 million) in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.

The company said its profitability in the first half of 2022 was driven by higher hydrocarbon prices and commitment to maintaining a low-cost base and strong operational performance in the KRI.

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.”

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