Romanian group OMV Petrom proposes EUR 240 mln dividends from 2017 profit

Romanian oil and gas group OMV Petrom may pay dividends worth EUR 240 million from last year’s net profit. The group’s Supervisory Board has approved the management’s proposal to distribute a gross dividend per share of RON 0.02, up by a third compared to last year. The group’s shareholders will vote on this dividend proposal on April 26. The proposed dividend represents 6.4% of the current share price of RON 0.3105. OMV Petrom posted a net profit of EUR 543 million in 2017, 2.4 times higher than in 2016. Austrian group OMV owns 51% of Petrom’s shares and will get dividends worth EUR 122 million. The Romanian state also holds a 20.64% stake and will cash in almost EUR 50 million. The rest of the money will go to the minority shareholders. OMV plans further investments in Romanian refinery editor@romania-insider.com