At the current trading prices of RON0.75/share, the yield stands at 4%, according to ZF’s calculations. This is a special dividend on top of the one already paid from the 2023 profit. The proposed payment date is September 3, and the ex-date is August 9, 2024.
“Our Strategy 2030 is expected to generate significant free cash flows, which support our investment plans and a highly competitive dividend. In this context, we are updating our dividend policy and provide a new dividend guidance.”
The dividend policy is: OMV Petrom is committed to deliver a competitive shareholder return throughout the business cycle, including paying a progressive dividend, in line with financial performance and investment needs, considering the long-term financial health of the company. In a favorable market environment and at management discretion, special dividends may also be distributed, provided that the company’s investment plans are funded.
“The company maintains the target to increase its base dividend per share by 5% – 10% per annum by 2030. Moreover, the company provides a new guidance to distribute total dividends (base and special) between 40-70% of the operating cash flow each year by 2030. On average for 2022-2030, total dividends are expected to account for approximately 50% of the operating cash flows (40% before), in a base case price scenario.”
Given the company’s financial strength in terms of net cash position and expected profitability, the Executive Board proposes the distribution of a special dividend in gross value of RON 0.030 per share which leads to a total value of special dividends of RON 1,869 million. This would be the third special dividend in a row to be distributed by OMV Petrom.
(English version by Loredana Fratila-Cristescu)