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After the rise in oil prices and the increase in Kurdistan production... Dana Gas distributes cash dividends
Shafaq News/ The Emirati company, Dana Gas, announced today, Tuesday, its intention to distribute cash dividends after the increase in oil prices and the volume of its production in the Kurdistan Region.
The company said in a statement seen by Shafak News Agency that it "announced its intention to recommend the distribution of cash dividends to shareholders of 4.5 Emirati fils per share for the second half of 2021," noting that "the total dividends for the fiscal year ending in 2021 rose to 8 money, an increase of 45 percent compared to the dividends in 2020.
She added, "The company's net profit amounted to 1.2 billion dirhams (317 million dollars) in 2021, compared to losses of 1.4 billion dirhams (376 million dollars) during the year 2020, indicating that the company recorded an adjusted net profit of 469 million dirhams ($ 128 million). .
She indicated that "the company's revenues amounted to 1.7 billion dirhams (452 million dollars), with a growth rate of 30 percent on an annual basis, thanks to the rise in oil prices and the increase in the company's production volume in the Kurdistan Region," noting that "the total cash payments received by the company in 2021 were the highest In its history, it amounted to 1.4 billion dirhams ($ 377 million), which contributed to increasing the company’s cash flow to reach 678 million dirhams ($ 185 million) at the end of 2021.
Hamid Diaa Jaafar, Chairman of the Board of Directors of Dana Gas, said that the company achieved record levels of profitability and collection of receivables through careful management of costs and operations.
He explained that "progress in the implementation of projects is continuing in the expansion of the Khor Mor station in the Kurdistan Region of Iraq, as construction work is moving forward in the field according to the scheduled schedule towards the start of operating the first gas processing lines during the second quarter of 2022," noting that "the production capacity of this The pipeline amounts to 250 million cubic feet of gas per day, which will raise the total gas production to 700 million cubic feet of gas per day.
He pointed out that "the continuous supply of gas to the electricity production plants in Erbil, Chemchemal and Bazian provided more than 80 percent of the electric energy produced in the region, and also contributed to achieving significant savings in fuel cost by replacing diesel with gas in a step that achieves great environmental and economic benefits in the region and Iraq." As a whole
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The company said in a statement seen by Shafak News Agency that it "announced its intention to recommend the distribution of cash dividends to shareholders of 4.5 Emirati fils per share for the second half of 2021," noting that "the total dividends for the fiscal year ending in 2021 rose to 8 money, an increase of 45 percent compared to the dividends in 2020.
She added, "The company's net profit amounted to 1.2 billion dirhams (317 million dollars) in 2021, compared to losses of 1.4 billion dirhams (376 million dollars) during the year 2020, indicating that the company recorded an adjusted net profit of 469 million dirhams ($ 128 million). .
She indicated that "the company's revenues amounted to 1.7 billion dirhams (452 million dollars), with a growth rate of 30 percent on an annual basis, thanks to the rise in oil prices and the increase in the company's production volume in the Kurdistan Region," noting that "the total cash payments received by the company in 2021 were the highest In its history, it amounted to 1.4 billion dirhams ($ 377 million), which contributed to increasing the company’s cash flow to reach 678 million dirhams ($ 185 million) at the end of 2021.
Hamid Diaa Jaafar, Chairman of the Board of Directors of Dana Gas, said that the company achieved record levels of profitability and collection of receivables through careful management of costs and operations.
He explained that "progress in the implementation of projects is continuing in the expansion of the Khor Mor station in the Kurdistan Region of Iraq, as construction work is moving forward in the field according to the scheduled schedule towards the start of operating the first gas processing lines during the second quarter of 2022," noting that "the production capacity of this The pipeline amounts to 250 million cubic feet of gas per day, which will raise the total gas production to 700 million cubic feet of gas per day.
He pointed out that "the continuous supply of gas to the electricity production plants in Erbil, Chemchemal and Bazian provided more than 80 percent of the electric energy produced in the region, and also contributed to achieving significant savings in fuel cost by replacing diesel with gas in a step that achieves great environmental and economic benefits in the region and Iraq." As a whole
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