Shareholders of Romanian oil company OMV Petrom recently approved the distribution of record dividends amounting to RON 2.8 billion (EUR 562.6 million) for the 2024 financial year, as well as the 2025 budget, which provides for investments of RON 8.1 billion (EUR 1.6 billion).
The decision was taken during the Ordinary and Extraordinary General Meetings on Thursday, April 24.
“We ended 2024 with solid operational results and made significant progress in implementing the 2030 Strategy. Strategic projects such as Neptun Deep are progressing according to plan,” said Christina Verchere, CEO of OMV Petrom.
The dividends amount to RON 0.0444/share, resulting in a yield of 6.3%. Dividends will be paid starting June 3, 2025, to shareholders registered with the Central Depository S.A. as of May 13, 2025.
According to the cited source, the gross value of the base dividend is 7.5% higher than the previous year. The total value of dividends for 2024 represents 66% of the net profit and 43% of the cash flow from the operating activities of the OMV Petrom Group in 2024. Of this amount, approximately RON 1.2 billion will go to Romanian shareholders, who held over 44% of the company’s shares as of December 31, 2024.
Over RON 570 million will be distributed to the Romanian state, which holds, through the Ministry of Energy, 20.7% of OMV Petrom S.A. shares.
The General Meeting also approved OMV Petrom’s 2025 budget, which foresees investments 20% higher than in 2024.
“Around 70% of the 2025 investments will be directed to the Exploration and Production segment. Important stages are planned in the development of Neptun Deep, a strategic project for OMV Petrom and for Romania: drilling of production wells has started, the production platform is under construction, systems for the underwater infrastructure are being manufactured, work is underway on the construction of the support vessel for production operations, as well as on the construction of the natural gas measuring station,” the statement notes.
At the same time, since the current mandates of all members of the Supervisory Board expire on April 28, 2025, the Ordinary General Meeting voted on the composition of the Supervisory Board of OMV Petrom for the next four-year term, from April 28, 2025, to April 28, 2029, as well as their remuneration for the current year, 2025. Sorin Dumitru Elisei, Berislav Gaso, Răzvan Eugen Nicolescu, Alfred Stern, Katja Tautscher, Martijn van Koten, and Jochen Weise received a new mandate. They are joined by two new members, Christine Catasta and Teodora Elena Preoteasa.
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with a group-level annual production of crude oil and gas of approximately 40 million boe in 2024. The Group has a refining capacity of 4.5 million tons per year and operates a high-efficiency 860 MW natural gas-fired power plant. In the retail petroleum products market, the Group is present in Romania and neighboring countries through approximately 780 filling stations, under two brands, OMV and Petrom.
(Photo source: Mihai Olaru | Dreamstime.com)
