The general assembly of Dana Gas decided to distribute cash dividends of 5.5% and the value of 5.5 fils per share for the year 2019.
According to Al-Bayan, the society agreed to start preparing a feasibility study to examine the possibility of separating the exploration and production work in a new independent company, and to include it in the Abu Dhabi Stock Exchange.
Hamid Jaafar, Chairman of Dana Gas, said: The company continues its growth momentum and success with the continued distribution of cash dividends to shareholders for the third time in a row, which confirms our strong performance and impressive results thanks to the great efforts made by the Board and the management team over the past several years with the aim of consolidating our position Finance, which is clearly reflected in the payment of cash dividends to shareholders.
He added: During 2019, the company was able to drive the growth of production and enhance its operations, which made it more flexible in the face of challenges.Moreover, the majority of the company's natural gas production is sold under long-term contracts at fixed prices, giving it a competitive advantage that enables it to benefit from Opportunities available.
He continued: We look forward to enhancing the value of shareholders ’investments by separating the exploration and production assets of a new company.
