Adhoc report - New guidance for dividend distribution
Adhoc report in compliance with Law no. 24/2017 on issuers of financial instruments and market operations and Financial Supervisory Authority Regulation no. 5/2018 on issuers of financial instruments and market operations
Date of report: June 18, 2024
Name of issuer: OMV Petrom S.A.
Headquarters: Bucharest, 22 Coralilor Street, District 1, („Petrom City”)
Telephone/fax number: +40 372 161930/ +40 372 868518
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute: RO
Trade Register Number: J 40/8302/1997
Share capital: RON 6,231,166,705.80
Regulated market on which the issued shares are traded: Bucharest Stock Exchange
Significant event to be reported: New guidance for dividend distribution
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.
Christina Verchere
Chief Executive Officer
President of the Executive Board
Alina Popa
Chief Financial Officer
Member of the Executive Board