Middle East Business: Dana Gas shareholders approve $86m H2 cash dividend – Gulf Digital News

Middle East Business: Dana Gas shareholders approve $86m H2 cash dividend – Gulf Digital News

Dana Gas shareholders have approved to distribute AED315 million ($86 million) or 4.5 fils per share cash dividend for the second half of the financial year ended December 31, 2021, making it high-yielding company in the UAE.

The payment will bring the total dividend for the financial year ended December 31, 2021 to AED560 million ($153 million) or 8 fils per share, a 45% increase compared to the dividend for 2020.

The shareholders’ approval came on the Board of Director's recommendation at the company's Annual General Assembly to hand out the dividend at the Middle East's largest regional private sector natural gas company.

Strong operational and financial performance

This reflects the company’s strong operational and financial performance during the year, and makes Dana Gas one of the highest-yielding listed companies in the UAE.

In their meeting shareholders approved a new dividend policy that allows for interim dividend payments.

Hamid Jafar, Chairman of Dana Gas, said: “Dana Gas’ 2021 performance with strong financial results and increased dividend payments to its shareholders are testaments to the company’s careful management of costs and continued operational excellence against a backdrop of higher global energy prices. Through 2022 we will continue to focus on our long-term growth strategy and anticipate positive