Dividends
Our Strategy 2030 is expected to generate significant free cash flows which support our investment plans and a highly competitive dividend. In this context, we are updating our dividend policy and provide a new dividend guidance.
The dividend policy is: “OMV Petrom S.A. (“the Company”) is committed to deliver a competitive shareholder return throughout the business cycle, including paying a progressive dividend, in line with financial performance and investment needs, considering the long-term financial health of the Company. In a favorable market environment and at management discretion, special dividends may also be distributed, provided that the Company’s investment plans are funded.”
The Company maintains the target to increase its base dividend per share by 5% - 10% per annum by 2030.
Moreover, the Company provides a new guidance to distribute total dividends (base and special) between 40-70% of the operating cash flow each year by 2030. On average for 2022-2030, total dividends are expected to account for approximately 50% of the operating cash flows (40% before), in a base case price scenario (updated on June 18, 2024).
Payment of dividends for 2021 – 2023 is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri). Payment of dividends 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 base dividends for 2021 will be prescribed starting June 11, 2025. Payment of special dividends distributed in 2022 will be prescribed starting September 3, 2025. Payment of base dividends for 2022 will be prescribed starting June 10, 2026. Payment of special dividends distributed in 2023 will be prescribed starting October 20, 2026. Payment of base dividends for 2023 will be prescribed starting June 9, 2027. Payment of special dividends distributed in 2024 will be prescribed starting September 7, 2027.
IMPORTANT: starting 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Special dividends distributed in 2024
Following the resolution of the Ordinary General Meeting of the Shareholders ("OGMS") of OMV Petrom S.A. ("OMV Petrom"), held on 25 July 2024, OMV Petrom announces the payment of special dividends starting with September 3, 2024 to its shareholders registered in the shareholders registry kept by Depozitarul Central S.A. on the record date August 12, 2024. The allocation of dividends is done from previous years' distributable profits.
The gross dividend is RON 0.0300 per share; where applicable any withholding tax payable will be deducted prior to payment, at the legal rate.
The procedure regarding the payment of special dividends and other details on this topic are available on the links below.
IMPORTANT: strating 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri).
Special dividends distributed in 2023
Following the resolution of the Ordinary General Meeting of the Shareholders ("OGMS") of OMV Petrom S.A. ("OMV Petrom"), held on 12 September 2023, OMV Petrom announces the payment of special dividends starting with October 19, 2023 to its shareholders registered in the shareholders registry kept by Depozitarul Central S.A. on the record date September 28, 2023. The allocation of dividends is done from previous years' distributable profits.
The gross dividend is RON 0.0450 per share; where applicable any withholding tax payable will be deducted prior to payment, at the legal rate.
The procedure regarding the payment of special dividends and other details on this topic are available on the links below.
IMPORTANT: strating 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri).
Special dividends distributed in 2022
Following the resolution of the Ordinary General Meeting of the Shareholders ("OGMS") of OMV Petrom S.A. ("OMV Petrom"), held on 26 July 2022, OMV Petrom announces the payment of special dividends starting with September 2, 2022 to its shareholders registered in the shareholders registry kept by Depozitarul Central S.A. on the record date August 11, 2022. The allocation of dividends is done from previous years' distributable profits.
The gross dividend is RON 0.0450 per share; where applicable any withholding tax payable will be deducted prior to payment, at the legal rate.
The procedure regarding the payment of special dividends and other details on this topic are available on the links below.
IMPORTANT: strating 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Important notice concerning the payment of special dividends by OMV Petrom S.A. (PDF, 364,2 KB)
Payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri).
Following the resolution of the Ordinary General Meeting of the Shareholders ("OGMS") of OMV Petrom S.A. ("OMV Petrom"), held on 24 April 2024, OMV Petrom announces the payment of the dividends for 2023 financial year starting with June 5, 2024 to its shareholders registered in the shareholders registry kept by Depozitarul Central S.A. on the registration date May 15, 2024.
The gross dividend is RON 0.0413 per share; where applicable any withholding tax payable will be deducted prior to payment at the rate provided by the law.
The procedure regarding the payment of dividends for 2023 and other details on this topic are available on the links below.
IMPORTANT: strating 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri).
Following the resolution of the Ordinary General Meeting of the Shareholders ("OGMS") of OMV Petrom S.A. ("OMV Petrom"), held on 26 April 2023, OMV Petrom announces the payment of the dividends for 2022 financial year starting with June 7, 2023 to its shareholders registered in the shareholders registry kept by Depozitarul Central S.A. on the registration date May 15, 2023.
The gross dividend is RON 0.0375 per share; where applicable any withholding tax payable will be deducted prior to payment, at the legal rate.
The procedure regarding the payment of dividends for 2022 and other details on this topic are available on the links below.
IMPORTANT: strating 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri).
Following the resolution of the Ordinary General Meeting of the Shareholders ("OGMS") of OMV Petrom S.A. ("OMV Petrom"), held on 27 April 2022, OMV Petrom announces the payment of the dividends for 2021 financial year starting with June 6, 2022 to its shareholders registered in the shareholders registry kept by Depozitarul Central S.A. on the registration date May 13, 2022.
The gross dividend is RON 0.0341 per share; where applicable any withholding tax payable will be deducted prior to payment, at the legal rate.
The procedure regarding the payment of dividends for 2021 and other details on this topic are available on the links below.
IMPORTANT: strating 1 October 2024, the new mail address of BRD is Turn BRD Blvd.Ion Mihalache 1-7, Sector 1, Bucuresti, postal code: 011171.
Payment of dividends is made through Depozitarul Central S.A. and BRD - Groupe Société Générale (BRD agencies list: https://www.brd.ro/agentii-si-atm-uri).
| Year | GMS | Dividend (RON/share) |
Registration date |
Ex-Date | Payment date |
|---|---|---|---|---|---|
| n/a* | July 25, 2024 | 0.0300 | August 12, 2024 | August 9, 2024 | September 3, 2024 |
| 2023 | April 24, 2024 | 0.0413 | May 15, 2024 | May 14, 2024 | June 5, 2024 |
| n/a* | September 12, 2023 | 0.0450 | September 28, 2023 | September 27, 2023 | October 19, 2023 |
| 2022 | April 26, 2023 | 0.0375 | May 15, 2023 | May 12, 2023 | June 7, 2023 |
| n/a* | July 26, 2022 | 0.0450 | August 11, 2022 | August 10, 2022 | September 2, 2022 |
| 2021 | April 27, 2022 | 0.0341 | May 13, 2022 | May 12, 2022 | June 6, 2022 |
| 2020 | April 27, 2021 | 0.0310 | May 14, 2021 | May 13, 2021 | June 7, 2021 |
| 2019 | April 27, 2020 | 0.0310 | May 14, 2020 | May 13, 2020 | June 5, 2020 |
| 2018 | April 19, 2019 | 0.0270 | May 23, 2019 | May 22, 2019 | June 13, 2019 |
| 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 |
June 12, 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 |
- | - | - | - |
| *Special dividend approved in the respective years from previous years' profits | |||||
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.