Brazil’s Petrobras will pay $6.9 billion in dividends – #Brazils #Petrobras #pay #billion #dividends
SAO PAULO, March 1 (Reuters) – Brazil’s state oil company Petrobras ( PETR4.SA ) is set to pay a dividend of 2,745 reais per share, bringing the total to 35.8 billion real (6.91 billion dollars) earns income. On Wednesday, an event offer although it does, it keeps some profits as a reserve.
The first dividend to be paid by new CEO Jean Paul Prates is largely in line with the company’s policy of rewarding shareholders.
However, the company’s board of directors approved a proposal to maintain a dividend of 0.49 real per share to create a statutory reserve within the company.
If shareholders reject the offer, the board recommended paying 0.49 reais per share on December 27.
In the previous two quarters, Petrobras distributed more dividends to shareholders than any other Western oil producer.
215.8 in all of Petrobras’ 2022 billion reais (41.67 billion dollars) payments made the oil giant a cash cow for its investors, including the Brazilian government, which owns a controlling stake in the company.
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However, the leftist the president After Luiz Inacio Lula da Silva won elections last October, members of his Workers’ Party criticized the company’s policy of paying large sums, arguing instead for larger investments.
The company’s announcement states that the first part of the dividend worth 1.37286685 reais per share will be paid on May 19, and the remaining part on June 16.
Local media previously reported that the company’s 37.8 billion reais (7.30 billion dollars) said he would pay.
On Wednesday, the company also reported a better-than-expected 38% rise in fourth-quarter profit, helped by higher oil prices during the period.
($1 = 5.1794 reais)
Reporting by Peter Frontini; Edited by Sarah Morland
Our standards: Thomson Reuters Trust Principles.
2023-03-02 05:50:49
Source – reuters
Translation“24 HOURS”