The shareholders of Romanian energy group OMV Petrom (BVB: SNP) approved on September 12 the distribution of special dividends of RON 2.8 billion (EUR 560 million approx.), which for the current price of the company’s shares would result in a 7.7% yield.

Out of the RON 10 billion net profit of 2022, the company distributed dividends of only RON 2.3 billion.

Petrom has a market capitalization of RON 35.6 billion. In 2023, the company’s shares are up 38% YTD compared to a 21% YTD advance of the blue chips’ index BET and a 25% YTD advance of the BET-TR index (that also includes dividends).

iulian@romania-insider.com

(Photo source: Flickr/OMV Petrom)