Petrobras announces distribution of BRL 24 billion in dividends

Petrobras’ Board of Directors approved today (11), in Rio de Janeiro, the payment of dividends and interest on own capital to shareholders in the amount of R$ 1.89 per common and preferred share. Thus, approximately R$ 24 billion will be distributed to investors.

The remuneration will be paid in two equal installments on August 18th and September 20th. According to a notice to the market available on the Petrobras website, the approved amount is compatible with its financial sustainability.

Remuneration

“The amount is in line with the current Shareholder Remuneration Policy, which provides that, in case of gross debt of less than US$ 65 billion, Petrobras must distribute to its shareholders 60% of the difference between operating cash flow and acquisitions of fixed and intangible assets (investments)”, explains the text.

Also approved at the same meeting was a determination for the state-owned company’s executive board to draw up a proposal to adjust Petrobras’ Strategic Planning and Improvement of Shareholder Compensation Policy, which includes the possibility of buying back shares. The Board of Directors wants to deliberate on these issues by the end of July.