Dana Gas shareholders approve dividend of 4.5 fils per share for H2 2022

Sharjah: Shareholders of Dana Gas on Thursday approved the board of directors’ recommendation to distribute a further 4.5 fils per share cash dividend for the second half of the financial year ended December 31, 2022.

Shareholders holding the shares as of May 4, 2023 will be eligible to receive the interim dividend. Payment to shareholders is expected on May 25, 2023.

This will bring the total dividend payment for the year to Dh630 million or 9 fils per share, a 12.5 per cent increase compared to the dividend for 2021.

Hamid Jafar, Chairman of Dana Gas, said: “Our shareholders approved the proposal of the board of directors to pay out a dividend for the second half of 2022, reflecting our strong operating and financial performance throughout the year.

“This recommendation also reflects our deep-seated belief in the company’s growth prospects, both in the Kurdistan Region of Iraq, where our production has increased again, and in Egypt, where we hope to maximise the value from our assets with the proposed concession consolidation.”