Shareholders of Dana Gas, the Middle East's largest regional private sector natural gas company, have approved the Board of Director's recommendation to distribute a AED5.5 fils (1.5 cents) per cash dividend for the financial year ended December 31, 2020.
At the Annual General Meeting, Hamid Jafar, Chairman of Dana Gas, said: “Dana Gas’ 2020 performance demonstrates the company’s financial and operational resilience in the face of the challenging macro-economic environment and the unprecedented volatility in crude oil prices. As a result of the company’s solid performance and the promising outlook as oil prices and markets recover, I am pleased the shareholders have approved the distribution of a dividend of AED5.5 fils per share for the 2020 financial year at today’s AGM. The rebound in oil prices in the first quarter of the year will further support our robust financial position in 2021 as we continue to improve our operational capabilities.
The AGM concluded with the election of a new 11-member Board of Directors for the coming 3-year term. The new Board includes three new directors, namely; H.E. Younis Al Khoori, Undersecretary at the Ministry of Finance, Ms Najla Al Midfa, Chief Executive Officer of the Sharjah Entrepreneurship Center (Sheraa) and Mr Ajit Joshi, Managing Director, Head of Public & Private Markets, at Shuaa.
Jafar added: “I would also like to thank Said Arrata, Abdullah Ali Almajdouie and Nureddin Sehweil for their service and valuable contributions during their long tenure and wish to welcome our newly elected Board members.” -- TradeArabia News Service