Romania, OMV Petrom and Nuclearelectrica are prepared to distribute higher dividends

, SEE Energy News

The management of oil and gas company OMV Petrom and electricity producer Nuclearelectrica have proposed to their shareholders the distribution of dividends that, if approved, would result in high yields of 7.8 % and 9.4 %, respectively. The dividends will be distributed out of the outstanding profits reported for 2022.

Natural gas producer Romgaz has not yet announced plans for dividend distribution, but it has also reported a significant increase in its net profit in 2022.

OMV Petrom plans to distribute as dividends some 470 million euros from the record net profit of 2.1 billion euros achieved in 2022.

However, it remains unclear whether the company should pay the solidarity contribution for 2022, as experts of the tax authority are still evaluating the financial situation.

OMV Petrom’s management maintains its intention to propose the distribution of a special dividend in 2023, the exact value of which will be announced in mid-2023, possibly depending on the tax au- thority’s decision on the solidarity contribution.

On the other hand, Nuclearelectrica plans to distribute as dividends some 260 million euros out of the 555 million euros net profit achieved last year.

Recently, the Romanian state approved a memorandum mandating state-owned companies to distribute 90 % of the profits as dividends, with exceptions when companies have ambitious investment plans.

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