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OMVKY Omv Ag Bearer (PK)

10.601
-0.029 (-0.27%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Omv Ag Bearer (PK) USOTC:OMVKY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.029 -0.27% 10.601 10.58 10.83 10.715 10.601 10.70 4,935 21:00:01

OMV Shares Rise on 3Q Beat, Special Dividend

28/10/2022 9:38am

Dow Jones News


Omv Ag Bearer (PK) (USOTC:OMVKY)
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From Jul 2022 to Jul 2024

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By Giulia Petroni

 

OMV AG's shares jumped on Friday after third-quarter earnings beat expectations and the company unveiled a boost to shareholders' distributions for next year.

At 0757 GMT, the stock trades 7.3% higher at EUR44.71.

The Austrian oil-and-gas company's quarterly operating result of EUR3.5 billion ($3.49 billion) came in 9% ahead consensus. Growth was driven by the upstream segment, which benefited from a quarter-on-quarter increase in production and strong gas price realizations, as well as the refining and marketing business thanks to strong gas and power trading, Citi analysts said in a note.

OMV also said it will propose a special dividend of EUR2.25 a share at the next annual shareholders meeting, effectively doubling the payout and helping to bridge the distribution gap with peers, analysts said.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

October 28, 2022 04:23 ET (08:23 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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