Petrobras Proposes Payment of R$ 14.2 Billion in Dividends

In Short:

The board of directors of Petrobras (PETR4) approved a proposal for the Ordinary General Meeting (AGO) to decide on the payment of dividends totaling R$ 14.2 billion. The assembly is scheduled for April 25, 2024, as announced in a statement released on Thursday evening (7).

The proposed dividends from Petrobras would amount to R$ 1.09894844 per preferred and ordinary share, divided into two equal installments of R$ 0.54947422. The ex-dividend date is set for April 25, 2024, for shares traded on the B3 and April 29, 2024, for ADRs traded in New York.

If approved by the Assembly, the total dividends for 2023 will reach R$ 72.4 billion, including advanced dividends and adjustments for the Selic rate. Petrobras' remuneration policy stipulates the distribution of 45% of free cash flow to investors, provided that the company's gross debt is equal to or above the maximum level defined in its current strategic plan, which is US$ 65 billion.

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