“This dividend implies a 7.5% year-on-year increase, at the middle of the 5-10% range stated in the dividend guidance. The proposed Record Date, which serves to the identification of the shareholders who are to benefit from dividends is May 13, 2025, the proposed “Ex-Date” is May 12, 2025, while the proposed Payment Date is June 3, 2025,” the report reads.
Based on the current prices of RON0.73, the proposal for a gross dividend of RON0.044 equals a 6.1% yield. Roughly RON2.8 billion are expected to get into the hands of shareholders, among which Austria’s OMV (which will cash half of the amount), the Romanian State (20.7%), pension funds and others. Petrom has a market capitalization of RON46 billion.
“In addition, around the middle of 2025, the Executive Board will decide if a special dividend distribution is to be proposed. The potential special dividend will be subject to a future Ordinary General Meeting of Shareholders,” the report also shows.
OMV Petrom, Romania’s sole oil and gas producer and the largest company by turnover, ended 2024 with RON35.8 billion sales, down 8% from 2023, while net profit climbed by 4% to RON4.2 billion, largely amid the elimination of the tax on refined crude oil. In the fourth quarter, the company registered RON9 billion sales, down 12% on the year, and a net result of RON263 million, 82% lower than in the year-earlier period.