The payment amounts to 36% of the company’s record profit of RON4.82 billion reported last year. Petrom, the Romanian arm of Austria’s OMV (OMV.VI), will distribute a gross dividend of RON0.0308 a share, up from RON0.028 a share in 2013.
Monday, the company’s shares closed at RON0.443 a share in Bucharest.
Petrom’s shareholders also approved the company’s revenue and expenditure budget for 2014, which envisages a net profit of RON3.93 billion on total sales of RON17.4 billion.
The company has scheduled investments of over EUR1 billion this year, of which approximately 85% will be dedicated to the exploration and production segment.
Also on Tuesday, Petrom appointed Austrian Johann Pleininger as member of its supervisory board. Pleininger will replace Jacobus Gerardus Huijskes in the position.
Petrom is 51%-owned by OMV AG, while Romania’s Economy Ministry holds a 20.6% stake.