OMV Executive Board will propose special dividend for the financial year 2022 in the amount of EUR 2.25 per share
Public disclosure of inside information according to Art 17 MAR
The Executive Board of OMV Aktiengesellschaft ("OMV") has decided today that a special dividend in the amount of EUR 2.25 per share will be proposed to the Annual General Meeting 2023. This special dividend will be distributed in addition to and at the same time as the regular dividend which will still be resolved in 2023 in accordance with OMV’s progressive dividend policy.
The distribution of dividends is subject to the necessary resolutions by the corporate bodies after the end of the 2022 financial year, in particular the adoption of the annual financial statements and the passing of resolutions by the shareholders of OMV at the 2023 Annual General Meeting.
In addition, the Executive Board, following a timely alignment with the Supervisory Board, intends to amend the existing dividend policy so that special dividends can also be considered for future financial years as a means for shareholders to participate in extraordinarily positive business and financial performance of OMV, always taking into account the need for sufficient liquidity and sustainable balance sheet profits as well as a leverage ratio significantly below 30%.
With Group sales revenues of EUR 36 bn and a workforce of around 22,400 employees in 2021, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Refining & Marketing business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in ten European countries. In addition, the activities include Gas & Power Eastern Europe where it also operates a gas-fired power plant in Romania. In Exploration & Production, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2021 included production from a joint venture in Russia and amounted to 486,000 boe/d with a focus on natural gas (~60%). As of March 1, 2022, Russian entities are no longer consolidated. Its activities include Gas Marketing Western Europe, where it also operates gas storage facilities in Austria and Germany.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.