Serbia, NIS pays 49.2 million euros in dividend

, News Serbia Energy

On 22 August, Serbian oil company NIS paid around 49.2 million euros, which is 25 % of last year’s net profit, in dividends to its shareholders. This is the tenth consecutive time the company has paid out dividends. In total, NIS has paid over 500 million euros to its shareholders so far.

Russian GazpromNeft holds 50 % of the capital stock in NIS, while the Republic of Serbia owns 29.87 % and Gazprom owns 6.15 % stake. The rest of the shares is owned by individuals, including current and former employees, and other minority shareholders.

Serbian citizens holding NIS shares received 0.26 euros per share. Gross amount of dividends per share is 0.3 euros, from which NIS pays to the state 15 % in tax.

Despite the complex macroeconomic environment, Serbian oil company NIS achieved good operating and financial results in the first half of 2022. Higher oil prices on the world market contributed to the growth of financial indicators. The average price of a barrel of the Brent oil in the first six months was 107.59 dollars, which is 66 % more than in the same period in 2021. Thanks to this, as well as to the achieved growth in the volume of sales and distribution, the EBITDA indicator of the NIS Group in the reporting period amounted to around 565 million euros and the net profit amounted to 375 million euros.