OMV Petrom will distribute dividends of RON 1 billion

Newsroom 27/04/2011 | 12:18

OMV Petrom shareholders (SNP) approved dividends distribution totalizing RON 1 billion (about EUR 244 million), meaning a gross value per share of RON 0.0177.

The majority shareholder, the Austrian group OMV, will receive gross dividends of RON 511 million, the Ministry of Economy, which holds 20.6 percent, will receive RON 206 million and the Property Fund (PF), with a participation of 20.1 percent will receive RON 200 million.

According to company information, this year’s investments volume rises to some RON 4.9 billion, at the same level as last year. Most investments, 67 percent, is intended for exploration and production, other 21 percent of the budget in activities of refining and marketing, and 9 percent will represent investments in gas and energy.

Petrom shareholders also approved the election of two new members of the supervisory board: Manfred Leitner from OMV which will replace Wolfgang Ruttenstorfer (former CEO of OMV), and Constantin Dascalu, proposed by the Ministry of Economy to replace Marian Turlea. Dascalu is adviser to the Minister of Economy Ion Ariton.