Romania, OMV Petrom is planning to distribute additional dividend

, SEE Energy News

The largest Romanian oil and gas company OMV Petrom is planning to distribute additional dividend in the amount of 515 million euros from its cash reserves.

The company’s Board proposed the distribution of a special dividend of 0.009 euros per share, which represents almost 10 % of the current share price. With this additional, total dividend paid out for 2021 will amount to 0.016 euros/share and translates into a total dividend yield of 15.9 %.

The decision has to be approved by the company’s Supervisory Board and its shareholders. This would be the first time since its privatization in 2004, that OMV Petrom would distribute special dividend.

OMV Petrom recorded a net profit in the amount of 579 million euros in 2021, which is more than double compared to the previous year.