Wintershall Dea postpones dividend decision
Wintershall Dea has decided to postpone the dividend decision until further notice.
Paul Smith, Wintershall Dea CFO, said: “The terrible events in Ukraine caused by the Russian invasion have sent shockwaves around the world, and given the unprecedented uncertainty the company has decided to postpone the decision on the distribution of a dividend until further notice.
During 2021, Wintershall Dea achieved outstanding operational and financial results, allowing us to enter 2022 with a very strong balance sheet including €2.1 billion of cash, and over €3 billion of liquidity. However, given the unprecedented uncertainty we have decided to postpone the dividend decision while we continue to monitor developments.”
About Wintershall Dea
Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business. More in our Annual Report.
As a European gas and oil company, we support the EU's 2050 carbon neutrality target. As our contribution we have set ourselves ambitious targets: We want to be net zero across our entire upstream operations – both operated and non-operated by 2030. This includes Scope 1 (direct) and Scope 2 (indirect) greenhouse gas emissions on an equity share basis. In addition Wintershall Dea will bring methane emissions intensity below 0.1 per cent by 2025 and maintain zero routine flaring of associated gas in its operations. The climate goals are to be achieved through portfolio optimization, emissions reduction through more energy efficiency, investments in nature-based compensation solutions and in future technologies such as hydrogen and CCS. You can find more about this in our Sustainability Report.
Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,500 people worldwide from almost 60 nations.