State demands 13.4 million lei in dividends from Oil Terminal; company proposes 7.5 million

The Board of Directors of Oil Terminal completed the agenda of the shareholders' balance sheet meeting, scheduled for April 28, with the request of the Ministry of Energy regarding the allocation of dividends, according to a report by the port operator published on the Bucharest Stock Exchange (BVB) website.

Thus, the company's shareholders want on the table the proposal that, from last year's profit of 20.7 million lei, the amount of 13.4 million lei should go to dividends. The amount means 90% of the distributable net profit, given that 4.5 million lei are reserves representing tax facilities provided by law, and 1.2 million lei is the legal reserve. The unit dividend is 0.00447719 lei, equivalent to a gross yield of 3.8% compared to the company's share price on April 8, of 0.117 lei.

Oil Terminal's management proposed dividends of almost 7.5 million lei, while six million lei represent own sources of financing. The company's shareholders will have both options on the table at the meeting at the end of the month.

For last year, the port operator reported a preliminary net turnover of 474 million lei, 35% more than last year, while net profit was up by over 30%. After the first nine months of 2024, Oil had reported revenues of about 350 million lei, up 36% compared to those in the first three quarters of the previous year, while net profit was 45.5 million lei, which means that in the fourth semester of 2025 Oil Terminal recorded a loss.

The increase in revenues and profit after the first nine was due to the increase in the quantity of products handled through the terminal, along with the increase in tariffs by ANRM by 19.7% compared to those in the previous year.

The Romanian State owns, through the Ministry of Energy, 87.7% of the port operator in Constanta, whose stock market valuation amounts to about 350 million lei.