Romania’s leading oil and gas group OMV Petrom (SNP) will pay a gross dividend of RON 0.031 per share from last year’s net profit and from reported profits from previous years.

The dividend yield is 7.6% at Wednesday’s closing price of RON 0.407 per share. The total value of dividends is RON 1.75 bln (EUR 360 mln), the same as last year, despite the 64% drop in the group’s consolidated net profit in 2020, to RON 1.29 bln (EUR 265 mln).

The dividend proposal, which came from the group’s management, also needs to be voted by the group’s shareholders.

Austrian group OMV holds 51% of OMV Petrom while the Romanian state holds a 20.6% stake. The annual general shareholders meeting will take place on April 27. OMV Petrom’s shares are up 12% since the beginning of this year.

(Photo: OMV Petrom on Flickr)

andrei@romania-insider.com