Slovenia: Same dividend as last year proposed at Petrol

, SEE Energy News

Based on current share value, the net yield is 6.1 %. Slovenian energy group Petrol proposed the payout of dividend from 2020 net profit in total amount of 45.2 million euros, which makes 22 euros/share, the same as in the previous year.

The proposal is set taking into account the necessary investments, free cash flow, the level of the company’s debt, development plans, retained earnings from previous years, the appropriate ratio of net financial debt to EBITDA and the liquidity situation. According to Petrol’s dividend policy for 2021-2025 period, 50 % of the net profit should be paid to shareholders as dividends.

The shareholders will vote on the proposal at the next general meeting scheduled for 22 April.

Petrol recorded a net profit in the amount of 72.3 million euros in 2020, which is 31 % less compared to the previous year. The group’s sales revenue fell by an annual 30 % to 3.08 billion euros in 2020, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled 166.6 million euros, a 15 % decrease compared to 2019. Petrol recorded an adjusted gross profit of 426.9 million euros in 2020, down 10 % year-on-year, due to a drop in petroleum product sales resulting from movement restrictions introduced by governments and from the economic downturn caused by the pandemic.