OMV Petrom pays special dividends resulting in 9% yield

OMV Petrom (BVB: SNP), the largest oil producer in Southeast Europe, will distribute an additional dividend of RON 2.55 bln (EUR 500 mln) - or RON 0.045 per share, equivalent to a gross yield of 9%, after the shareholders endorsed a decision in this regard on July 26.

The payment date is September 2, the registration date is August 11, and the ex-dividend date is August 10.

On April 27, the company's shareholders approved the distribution of dividends in the gross amount of RON 1.9 bln for the financial year 2021, payable starting June. The company's management assured that the dividend does not hinder the financing of the investment projects.

"As announced in our 2030 Strategy, the company has the opportunity to distribute special dividends, provided that the investment plans are funded. Given the company's solid financial position in terms of net cash position as well as profitability, the Directorate proposes the payment of a special dividend in gross value of RON 0.045 per share, which leads to a total value of the special dividends of RON 2.55 bln," OMV Petrom Directorate explained in a note to Bursa daily.

OMV Petrom ended the first three months of the year with a profit of RON 1.75 bln, three times larger YoY.

(Photo source: Flickr/OMV Petrom)