Austrian group OMV, which holds 51% in Petrom, will collect around 510 million lei (124 million euros). Since 2004, when they took over control of the company, the Austrians have collected close to 500 million euros in dividends. OMV paid 669 million euros to the Romanian state for 33% in Petrom and boosted its stake to 51% after an around 830 million-euro capital increase. The Economy Ministry, which holds 30.6% in Petrom, will collect over 50 million lei in dividends, as will Fondul Proprietatea (Property Fund - FP), which has 20.1% in the company. The state intends to sell a 9.64% stake in Petrom worth 550 million lei on the Stock Exchange by mid-year, currently being in the process of selecting the broker. Petrom last year posted a record-high net profit of 2.2 billion lei (516 million euros), according to international financial reporting standards (IFRS), 156% more than in 2009, while its business climbed 16%, to 18.6 billion lei (4.37 billion euros). The value of the gross dividends proposed by Petrom to the shareholders is 0.0177 lei/share, accounting for 4.2% (yield) of the share price. Petrom shares gained 23% since the beginning of the year, ending yesterday at the price of 0.42 lei. The company's capitalisation is 5.75 billion euros. (ZF)
Access Investments-Building Awareness - European Union-ROMANIA
Monday, March 28, 2011
Austrian group OMV, which holds 51% in Petrom, will collect around 510 million lei (124 million euros). Since 2004, when they took over control of the company, the Austrians have collected close to 500 million euros in dividends. OMV paid 669 million euros to the Romanian state for 33% in Petrom and boosted its stake to 51% after an around 830 million-euro capital increase. The Economy Ministry, which holds 30.6% in Petrom, will collect over 50 million lei in dividends, as will Fondul Proprietatea (Property Fund - FP), which has 20.1% in the company. The state intends to sell a 9.64% stake in Petrom worth 550 million lei on the Stock Exchange by mid-year, currently being in the process of selecting the broker. Petrom last year posted a record-high net profit of 2.2 billion lei (516 million euros), according to international financial reporting standards (IFRS), 156% more than in 2009, while its business climbed 16%, to 18.6 billion lei (4.37 billion euros). The value of the gross dividends proposed by Petrom to the shareholders is 0.0177 lei/share, accounting for 4.2% (yield) of the share price. Petrom shares gained 23% since the beginning of the year, ending yesterday at the price of 0.42 lei. The company's capitalisation is 5.75 billion euros. (ZF)
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