Dana Gas withholds dividend for 2nd year in row
The company posted a 15% rise in full year net profit to AED528mn ($143.47mn) compared to AED457mn ($124.41mn) earlier
Dana Gas on Sunday said its shareholders have decided to withhold the dividends for a second year in a row.
The shareholders also discussed and approved the financial statements for 2015, the company said in a statement posted on Abu Dhabi Securities Exchange’s website.
The company posted a 15% rise in full year net profit to AED528mn ($143.47mn) compared to AED457mn ($124.41mn) earlier. The company reported gross revenues of AED1.5bn ($408.36mn) in 2015.
The company ended the year with an average total production of 63,900 barrels of oil equivalent per day (boepd), a 7% decrease compared to 68,900 boepd at end 2014, although production in Kurdistan saw an increase of 800 boepd (3%) of production.