Petrobras to distribute BRL 21.95 bi in extraordinary dividends

Brazilian state-run oil giant Petrobras will distribute a total of BRL 21.95 billion to shareholders, accounting for 50 percent of the amount estimated for 2023’s extraordinary dividends (paid in complement to the mandatory minimum).

Taking into account monetary updates starting on December 31 last year, the value currently stands at BRL 1.7571521 per preferred and common share. However, the payment will be made in two equal tranches in May and June, with the figures in constant adjustment until the actual payment dates.

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On the occasion, BRL 14.19 billion will also be paid out for commitments previously made by Petrobras, taking into account profits for 2023 and the formula set out in the company’s shareholder remuneration policy. Combined, all transfers currently add up to BRL 2.8949567 per preferred and common share, with each of the two installments now at BRL 1.44747835. The updates, which will continue until payment, are based on Brazil’s benchmark interest rate, the Selic.

The decision was approved Thursday (Apr. 25) at an ordinary meeting, during which shareholders once again deliberated on remuneration for 2023. By last month, BRL 58.21 billion had been paid out. Following the new payments announced, total remuneration should reach BRL 94.35 billion.

As per the payment schedule, the first installment should be paid to holders of Petrobras shares traded on B3, the Brazilian stock exchange, on May 20. Holders of American Depositary Receipts, stock certificates traded in the US, will be paid on May 28. The second is slated for June 20 for shareholders with securities on B3 and June 27 for ADR holders.