Romania, Shareholders of OMV Petrom agreed to distribute 380 million euros from the 2021 net profit

The shareholders of Romanian oil and gas company OMV Petrom, including Austrian OMV (51 %), the Ministry of Energy (20.6 %) and the private pension funds and Fondul Proprietatea, agreed to distribute 380 million euros from the 2021 net profit as dividends.

The company reported a net profit of almost 580 million euros in 2021, meaning that the dividend payout ratio neared 70 %. The dividend, a record for the company, will result in a dividend yield of 7.2 %.

OMV Petrom’s CEO Christina Verchere said that the company has a firm commitment to generate value for all stakeholders, including the Romanian state. At the same time, it will be intensifying investments, which are estimated to increase by about 55 % in 2022, to almost 900 million euros. Almost a quarter of this investment budget represents money earmarked for green transition projects.

OMV Petrom reported a net profit of 353 million euros in the first quarter of 2022, which is three times higher compared to the same period last year. The company’s revenues reached 2.4 billion euros in the first three months of the year, compared to 970 million euros in the same quarter of 2021.