Petrobras approves payment of BRL 15 billion to shareholders

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The Company will distribute R$1.149304 per share, in advance of the remuneration for the year 2023. Payments will be made in two equal installments. Petrobras headquarters building, in downtown Rio Marcos Serra Lima/g1 This Thursday (3rd), Petrobras’ board of directors approved the payment of R$ 15 billion in dividends to the company’s shareholders. According to the state-owned company, R$ 1.149304 per share will be distributed, in advance of the remuneration for the year 2023. Payments will be made in two equal installments: on November 21: R$ 0.574652 per share; on December 15: R$0.574652 per share. Last week, the oil company announced changes to its dividend policy. The new rule establishes the distribution of 45% of free cash flow (difference between cash generation and investments), reducing the percentage of payment to investors. Before, this percentage was 60%. “Approval of the proposed dividend is compatible with the company’s financial sustainability and is in line with the commitment to create value for society and shareholders, as well as the best practices of the world oil and natural gas industry,” said Petrobras. Payments include common shares (with voting rights at shareholders’ meetings) and preferred shares (without voting rights). The company has a total of 13,044,201,261 shares, the majority of which (3,740,470,811, or 28.67%) are held by the federal government. 2nd quarter results Petrobras also released its financial results for the second quarter of 2023 this Thursday. period of 2022. According to the oil company, the numbers are mainly explained by the following factors: devaluation of Brent oil in the international market; drop of more than 40% in international diesel crack spreads (difference between the price of crude oil and the derivative product); higher operating expenses, especially with taxes and impairment (reduction in the value of assets). The average price of Brent was US$ 78.39 per barrel between April and June, a drop of 31.1% compared to a year earlier, according to the company’s balance sheet. “These effects were partially offset by higher capital gains from the sale of assets, lower financial expenses – the result of gains from exchange rate variation due to the appreciation of the real against the dollar – and lower expenses with income tax”, informed the company.

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