Abu Dhabi-listed Dana Gas will pay no dividends to shareholders from 2007 earnings as it channels cash into investments, the company said in a statement on Thursday.
"The investments were expected to yield better returns for shareholders," Dana Gas said in a statement to the Abu-Dhabi bourse.
The recommendation to pay no dividend was subject to approval by shareholders at the annual general meeting. The board will review the dividend policy next year, the statement said.
Dana said in January it planned to invest around $500 million (Dh1.83 billion) on natural gas projects in Egypt and Iraq's Kurdish province this year. (Reuters)
Dana Gas to pay no dividends