The Annual General Meeting of the energy group gave the green light to the dividend for the last financial year, which is the largest that Motor Oil has paid since its listing on the stock exchange.

It is recalled that the dividend is 1.80 per share, for a total of 199.4 million euros. An interim dividend of EUR 0.40 has already been paid, while for the remaining dividend for the year (EUR 1.4 per share), the cut-off date has been set for Wednesday, June 26.

At the same time, the General Meeting approved the extension of the company's purpose to include the production and sale of electricity, as well as the production, sale, and distribution of hydrogen, advanced fuels, and methanol. It is recalled that Motor Oil, together with TERNA, is constructing a natural gas-fired production plant in Komotini and has set up a joint venture with PPC (Hellenic Hydrogen) to operate in the hydrogen sector.

"Energy has a past, present, and future. After half a century of history, development, and pioneering, Motor Oil is called upon to play a leading role in developments. We have a huge responsibility ahead of us to rapidly implement the investments we have planned and made over the last 5 years. The development must take place within a framework of security and balance so that we can continue to be present as a group in Greece and the wider region, leading the way," noted Petros Tzannetakis, Deputy CEO of the Group, at the General Assembly.

Regarding the important events of the last financial year, Mr. Tzannetakis pointed out that Hellenic Hydrogen was established in 2023 for the development of green hydrogen production projects. Also, in March, the group's shares were listed on MSCI Greece, while the following month, the acquisition of Thalis was completed.

Extensive maintenance was carried out at the Corinth refinery between May and July. At the same time, 2023 was the first full year of operation of the Naphtha processing complex, an investment of over 320 million euros whose finances allowed it to be repaid immediately. In May, the acquisition of 75% of Unagi, which owns renewable energy projects with a total capacity of 1.9 MW, took place. Motor Oil's stake amounts to approximately 600 MW. Also last year, the process for the acquisition of the remaining 25% of Anemos began, which was completed in January 2024.