Abu Dhabi – Mubasher: The board of Dana Gas has recommended a 27% increase in the annual cash dividends to 7 fils per year payable in six monthly instalments of 3.5 fils.

The first six-monthly dividends of 3.5 fils per share will be distributed in December 2021, subject to the approval of the ordinary general meeting (OGM), according to a bourse filing on Tuesday.

The company's Chairman, Hamid Jafar, said: "The Board of Directors is encouraged by the recent positive trend of international energy prices and the Company’s strong operational and financial performance."

It is noteworthy to mention that during the first ten months of 2021, the company's collections from the Kurdistan Region of Iraq (KRI) and Egypt jumped by 86% year-on-year (YoY) to $283 million (AED 1.03 billion) from $152 million (AED 557 million).