Abu Dhabi – Mubasher: Dana Gas’ decision to distribute dividends last year was not an exceptional move, but it was a part of an ongoing strategy adopted by the board to maintain the payment of dividends, the UAE-based energy producer’s CEO said.

Dividends’ policy is based on the company’s financial status and needs, Patrick Allman-Ward told CNBC Arabia, adding that dividends’ issue is one of the board’s priorities.

Dana is seeking to repurchase $33 million sukuk for its portfolio, with a 4% yield, in October, he said.

In December, the Abu Dhabi-listed producer announced a buyback of around $12 million of 4% Nile Delta Sukuk Ltd Certificates– Reg S of the Issuer in December.