OMV Petrom, Nuclearelectrica ready to pay high dividends

The management of oil and gas company OMV Petrom (BVB: SNP) and of nuclear power company Nuclearelectrica (BVB: SNN) have summoned shareholders to approve the distribution of dividends that, if approved, would result in high yields of 7.8% and 9.4%, respectively.

The dividends are going to be distributed out of the outstanding profits reported for 2022.

The gas company Romgaz has not yet announced plans for dividend distribution, but it has also reported a significant increase in its net profit.

OMV Petrom plans to distribute as dividends RON 2.3 bln from the record net profit of RON 10.3 bln recorded in 2022, according to Ziarul Financiar. It remains unclear whether the company should pay the solidarity contribution for 2022, as experts of the tax authority ANAF are still evaluating the financial situation.

OMV Petrom’'s executive board maintains its intention to propose the distribution of a special dividend in 2023, the exact value of which will be announced in mid-2023 – possibly depending on the tax authority’s decision on the solidarity contribution.

Nuclearelectrica plans to distribute as dividends RON 1.28 bln out of the RON 2.73 bln net profit achieved last year, ZF reported.

Recently, the state approved a memorandum mandating representatives to demand 90% of the profits of subordinated companies, with exceptions where companies have ambitious investment plans.

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