The shareholders of Romanian oil and gas company OMV Petrom (BVB: SNP), including OMV (51%), the Ministry of Energy (20.6%), as well as the private pension funds and Fondul Proprietatea, agreed to distribute RON 1.9 bln (EUR 380 mln) from the 2021 net profit as dividend.

The company reported a net profit of RON 2.86 bln in 2021, meaning that the dividend payout ratio neared 70%.

The dividend, a record for the company, will result in a dividend yield of 7.2%.

"We have a firm commitment to generate value for all stakeholders, including the Romanian state. At the same time, we are intensifying investments, which are estimated to increase by about 55% in 2022, up to RON 4.4 bln. Almost a quarter of this budget represents money earmarked for accelerating green energy projects," said Christina Verchere, CEO of OMV Petrom, Ziarul Financiar reported.

andrei@romania-insider.com

(Photo source: the company)