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Dividends

OMV Petrom S.A. (the Company) is committed to deliver a competitive shareholder return throughout the business cycle, including paying a progressive dividend. We aim to increase our dividend each year or at least maintain it at the previous year’ s level, in line with the financial performance and investment needs, considering the long term financial health of the Company.

For 2016 – 2017, the payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale. Payment of dividends for 2016 – 2017 is subject to general provisions concerning prescription (by reference also to the provisions of art. 2554 of the Civil Code regarding prorogation of the term). Payment of dividends for 2016 will be prescribed starting June 13, 2020. Payment of dividends for 2017 will be prescribed starting June 23, 2021.

Year GMS Dividend
(RON/share)

Registration date*

Ex-Date* Payment date
2017

April 26, 2018

0.0200

May 25, 2018

May 24, 2018

June 19, 2018

2016

April 25, 2017

0.0150

May 23, 2017

May 22, 2017

June 12, 2017

2015

April 26, 2016

- - - -
2014

April 28, 2015

0.0112

May 21, 2015

May 20, 2015

May 26, 2015

2013

April 29, 2014

0.0308

May 16, 2014

- -
2012

April 22, 2013

0.0280

May 14, 2013

- -
2011

April 27, 2012

0.0310

May 17, 2012

- -
2010

April 26, 2011

0.0177

May 12, 2011

- -
2009

April 29, 2010

- - - -
2008

April 28, 2009

- - - -
2007

April 22, 2008

0.0191

May 09, 2008

- -
2006

April 17, 2007

0.0179

May 04, 2007

- -
2005

April 25, 2006

0.0130

May 11, 2006

- -
2004

May 24, 2005

- - - -
2003

May 25, 2004

0.0027

June 4, 2004

- -
2002

April 22, 2003

- - - -
2001

April 25, 2002

0.0035

April 17, 2002

- -
2000

April 12, 2001

0.0028

March 31, 2001

- -
1999 April 14, 2000

0.0016

April 10, 2000

- -
1998

April 07, 1999

- - - -

Dividends are proposed by the Executive Board each year and are subject to Supervisory Board’s approval and shareholders’ approval during the Ordinary General Meeting of Shareholders. The Ordinary General Meeting of Shareholders for the approval of the annual financial statements establishes the amount of gross dividend per share, as well as the payment process, based on the proposal made by the Executive Board.

Under the Companies Law and in accordance with the Articles of Association, each fully paid Share gives its owner the right to receive dividends. All Shares, other than Treasury Shares, bear equal and full rights to dividends. The Company observes the one share, one vote, one dividend principle. There are no preference shares without voting rights or shares conferring the right to more than one vote. 

Dividends are distributed to the shareholders on a pro rata basis proportionately to their participation in the paid-up share capital of the Company. Payment of dividends is made only to shareholders registered in the shareholders’ register on the record date set by the Ordinary General Meeting of Shareholders. The record date must be set on a date that is at least 10 business days after the Ordinary General Meeting of Shareholders approving the dividend payment takes place. According to the Capital Markets Law, a payment date is to be set by the Ordinary General Meeting of Shareholders, and must be on a business day no later than 15 business days after the record date, but not exceeding six months from the date of the Ordinary General Meeting of Shareholders approving the dividend distribution.  

The Company must publish, before the dividend payment date, a press release in a nationwide newspaper specifying the value of the dividend per share, the ex date, the record date and the dividend payment date, as approved by the Ordinary General Meeting of Shareholders, as well as the means of dividend payment and identifying information of the paying agent. 

Any dividends that are not claimed within three years from the date on which their payment becomes due may be retained by the Company. 

According to the Companies Law, a dividend distribution out of fictitious profits or from sources that cannot be distributed, in the absence of financial statements or contrary to the relevant data included in the financial statements, leads to criminal liability of the directors, managers, members of the executive board or of the supervisory board or the legal representatives of a company. Furthermore, if the Company registers a loss of its net assets, the share capital must be replenished or reduced before any dividend distribution. In addition, if the Company has accumulated losses, it may not pay dividends until the losses are offset. 

According to the Companies Law, dividends may be distributed only from profits determined according to the law, as reported in the annual financial statements, approved by the Ordinary General Meeting of Shareholders. No interim dividends may be distributed.