Serbian oil company NIS has announced that it will distribute dividends for the 2024 financial year on 22 October, with shareholders receiving a gross payment of 0.24 euros per share.
The company noted that dividends for shareholders included on the US Treasury Department’s Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list will be postponed and issued only after their removal from the list.
For 2023, NIS paid dividends of 0.55 euros per share, totaling approximately 89.5 million euros.
Majority-owned by Russian GazpromNeft, NIS recorded a significant decline in profitability in 2024. Net profit dropped by 77% year-on-year to 86.2 million euros, while earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 35% to around 380 million euros, compared to 582 million euros in 2023.
Despite strong fourth-quarter results, overall performance for 2024 was weaker due to the turnaround at the Pancevo refinery, negative impacts from HIP Petrohemija, and less favorable market conditions.
Total oil and gas production reached 1.147 billion tons of oil equivalent, a 1% decline from 2023, while sales of petroleum products fell by 5% to 4.75 million tons.