The new decisions adopted during the Ordinary General Meeting of Shareholders (AGOA) and the Extraordinary General Meeting (AGEA) of OMV Petrom provide for the distribution of record dividends amounting to over 2.3 billion lei for the financial year 2022 and investments of approximately 6 billion lei for year 2023, with a growth potential of over 1 billion lei, the company announced.
At the same time, OMV Petrom is considering delisting from the London Stock Exchange the global depository receipts (GDRs) issued by Citibank.
“The year 2022 was unprecedented in terms of market conditions and results. Therefore, we will increase investments in Romania by almost 70%, to 6 billion lei, and distribute record dividends worth more than 2.3 billion lei,” said Christina Verchere, CEO of OMV Petrom.
Within the AGEA, the delisting of the global depository receipts (GDRs) issued by Citibank N.A., listed on the London Stock Exchange, was approved, considering the reduced share of GDRs in the company’s share capital, the traded volumes and related costs. OMV Petrom has always supported the development of the capital market in Romania and the continuation of the trading of its shares only on the Bucharest Stock Exchange is yet another proof of this.
The Ordinary General Meeting of Shareholders approved the Management Board’s proposal to distribute record basic dividends in the gross amount of 0.0375 lei/share for the financial year 2022, representing an annual increase of 10%. The total gross value of the dividends to be distributed amounts to over 2.3 billion lei, representing 23% of the net profit for the year 2022.
Dividends will be distributed to shareholders on record on the current date. Almost 1 billion lei will be distributed to Romanian shareholders, who held over 40% of the company’s shares on December 31, 2022. Of this amount, over 480 million lei will be distributed to the Romanian state, which owns, through the Ministry of Energy, 20.7% of the shares of OMV Petrom S.A.
AGOA approved an investment budget of approximately 7 billion lei which includes 6 billion lei planned investments and 1 billion lei contingent budget to cover the possibility of accelerating some of our strategic projects and other investment opportunities.
Within the AGOA, the appointment of three members to the Supervisory Board of OMV Petrom was approved, namely Reinhard Florey, Katja Tautscher and Berislav Gaso, previously interim members of the Supervisory Board, who join the current members, namely Alfred Stern, Martijn van Koten , Niculae Havrileț, Răzvan-Eugen Nicolescu, Marius Ștefan and Jochen Weise.
Also, within the AGOA, the appointment of KPMG Audit SRL as the new financial auditor for the audit of the 2023 financial statements was approved.
