Transaction Overview
OMV and ADNOC will each hold a 46.94% stake in Borouge Group International (BGI) following a transaction aimed at creating a global polyolefins leader. The transaction is expected to close in the first quarter of 2026, leading to the deconsolidation of Borealis and the introduction of substantial BGI dividends.
Dividend Policy Changes
OMV will implement a revised dividend policy starting in the financial year 2026, with the first payouts occurring in 2027. The new policy retains a progressive regular dividend and an additional variable dividend when the leverage ratio is below 30%.
Distribution Structure
Under the new policy, OMV will distribute 50% of BGI dividends attributable to OMV, plus 20–30% of operating cash flow excluding BGI dividends. This approach ensures that OMV shareholders benefit directly from the BGI transaction.
Financial Implications
On a pro forma basis, the dividend paid in 2025 for the 2024 financial year would have increased by approximately 30 cents or 6%, despite lower overall operating cash flows. The new policy is designed to be resilient, supported by stable BGI dividends.
Commitment to Stability
OMV remains committed to maintaining financial strength and flexibility, prioritizing a leverage ratio below 30% to ensure stability amid market and geopolitical uncertainties.
