Lower dividends for OMV Petrom shareholders
OMV Petrom management proposes to grant dividend of 1.12 bani/share for 2014, down by about 63% against the dividend paid for the previous year of 3.08 bani/share. The total amount of dividends for 2014 is a 30% redistribution of the net profit, which reached RON 2.1 billion in 2014. The paid dividend level makes the 2014 earnings per share to reach 32.32 bani. In 2014 OMV Petrom results went down mainly due to lower sales of crude and condensate oil and due to higher production costs. Production costs in Romania expressed in USD/boe was of USD 16.84/boe, 13% higher than the 2013 level, while in RON/boe it increased by 13% to RON 56.32/boe mainly due to the tax on special constructions introduced in 2014 and due to higher personnel costs.