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Dividend Increase at OMV
OMV’s Ordinary Annual General Meeting has approved a dividend of € 1.10 per share for 2011 as well as all other agenda resolutions.
Dividend Increase at OMV / Picture: © Wikimedia Commons / DanielZanetti [CC BY 3.0 (https://creativecommons.org/licenses/by/3.0)]
OMV CEO Gerhard Roiss says: "We look back at a successful year 2011. Despite the challenges associated with the aftermath of the Arab Spring, which heavily impacted our production in Libya and Yemen, we achieved a strong operating result, above the level of 2010 and strengthened our company’s financial position to make it fit for the years to come.”
Today’s General Meeting has approved a dividend of EUR 1.10 per share, which corresponds to a 10% increase compared to the previous year and a payout ratio of 32%. The payment date was agreed for May 16, 2012. The Meeting presented the duly adopted annual financial statements and discharged the Executive Board and Supervisory Board.
Due to the resignation of Khadem Al Qubaisi from the Supervisory Board as of the end of this Annual General Meeting, Murtadha Al Hashmi was elected as member of the Supervisory Board until the close of the General Meeting deciding on the discharge for the 2013 financial year.
The General Meeting has again granted authorization for the Long Term Incentive Plan, which is a long-term compensation instrument for the Executive Board and selected senior executives introduced in order to promote mid- and long-term value creation at OMV. Authorization was also granted for the newly introduced 2012 Matching Share Plan – an integral part of the annual bonus agreement, which is a long-term compensation vehicle for the Members of the Executive Board that promotes retention and shareholder alignment in OMV, combining the interests of management and shareholders via a long-term investment in restricted shares. The following characteristics for the 2012 plans have been approved accordingly: Duration, eligibility, investment requirements, success criteria, minimum and maximum bonus shares as well as withdrawal rules.
With Group sales of € 34.05bn and a workforce of 29,800 employees in 2011, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.