RIYADH: UAE-based natural gas firm Dana Gas raised cash dividends by 45 percent for 2021 from a year earlier as it turned into profit.
The company to pay 4.5 fils per share for the second half of 2021, bringing the total annual dividend to 8 fils, it said in a statement.
Fueled by higher oil prices, Dana turned 2020 losses of 1.4 billion dirhams ($376 million) into profit of 1.2 billion dirhams last year.
“Dana Gas achieved record profits and collections over the previous year, through careful management of costs and operations, and against a backdrop of rising energy prices,” said Hamid Jafar, chairman of the board of directors, Dana Gas.
“The outlook for 2022 is positive given higher energy prices and the continued focus on the management of operations and growth projects,” he added.