OMV Petrom’s board clears capital increase and substantial special dividend

OMV Petrom, on June 21, announcedthat the Executive Board approved a share capital increase of up to RON 585 mln (EUR 118 mln), including a RON 120 mln in-kind contribution of the state (the equivalent of 1,379 ha of land) plus the shares the other shareholders are subsequently entitled to subscribe.

The share capital increase was also approved by the Supervisory Board in its meeting held on June 21, 2022.

The subscription period will be for at least one month, estimated to occur during the September to October 2022 timeframe.

The subscription period will be included in the prospectus, which will be submitted for approval to the Financial Supervisory Authority and subsequently published.

OMV Petrom also announced that the Executive Board’s proposal for distribution of special dividends published on June 14, namely a gross special dividend of RON 0.0450/share (resulting in a gross dividend yield of 9.4%), was approved by the Supervisory Board and will be submitted for approval to the Ordinary General Meeting of Shareholders convened on July 26, 2022 (first convening).

The total value of special dividends is RON 2.55 bln (EUR 0.5 bln).

(Photo: Adrian825/ Dreamstime)