When managing the investors relation, our strategy is targeting increased dividend value and maximized return on investment.
Within the last 6 years, CONPET hasdistributed dividends at a rate ranging 85% – 93.3%, also maintaining an 85% distribution rate in the 2 year – budget forecasting.
The company records and pays dividends allocated out of the net profit, exclusively following the approval of the financial statements by the General Meeting of Shareholders.
CONPET S.A. performs profit distribution in compliance with the provisions of:
■ Law no. 31/1990, republished, regarding the companies;
■ Accounting Law no. 82/1991, republished, Art.19, paragraph (3);
■ Government Ordinance no. 64/2001 regarding the profit distribution for the national societies, national companies and commercial companies with whole or majority state owned capital, as subsequently amended and the Ordinance of the Ministry of Public Finances no. 144/2005 on the approval of the specifications to determine the amounts that are subject to profit distribution as per G.O. no. 64/2001;
■ the Revenues and Expenditure Budget.
The shareholders entitled to receive dividends allocated out of the profit to be distributed following the end of the financial year, are those registered in the Consolidated Shareholders’ Registry at the registration date approved by the General Meeting of Shareholders.
As per Art. 1, paragraph (3) of GO no. 64/2001 regarding the distribution of profit at the national societies, national companies and companies where the State holds majority or whole stake herein, as well as regies autonomes, amended pursuant to the EGO no. 47/2012, by way of derogation from the provisions of the Article 67, paragraph (2) of the Companies Act no. 31/1990, updated, further amendments and additions, the national societies, national companies and companies where the State or any administrative-territorial division is acting as sole, majority shareholder or where holds control thereof, are bound to enter the dividends due to the shareholders in no more than 60 days as of the deadline stipulated by law for the submission of the annual financial statements.
In case of dividends, the General Meeting of Shareholders sets out the payment date in a working day no more than 15 working days ulterior to the registration date, but not later than 6 months from the GMS date related to establishing of dividends, as per the Regulation no.3/2015 of the Financial Supervisory Authority for the amendment and completion of CNVM Regulation no.1/2006 regarding the issuers and securities operations and CNVM Regulation no. 6/2009 concerning the exercising of certain rights of the shareholders within the general meetings of the trade companies.
MARKET RELEASE on the Distribution of Dividends in amount of 85 million RON
CONPET S.A. MARKET RELEASE on the Distribution of Dividends related to 2016 Financial Year
CONPET S.A. MARKET RELEASE on the Distribution of Dividends related to 2015 Financial Year
CONPET S.A. MARKET RELEASE on the Distribution of Dividends related to 2014 Financial Year