Petrobras board endorses 50% payout of extra dividends, settling dispute [Seeking Alpha]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: Seeking Alpha
In a regulatory filing late Friday, Petrobras ( PBR ) said approval of the proposal to disburse up to 50% of the 43.9B reais (~$8.43B) available to distribute as extra dividends would not financially compromise the company While Brazil President Luiz Inacio Lula da Silva wanted to keep all the funds to reinvest in Petrobras' ( PBR ) operations, the board agreed on a compromise under pressure from investors who wanted a full payout. CEO Jean Paul Prates told O Estado de S. Paulo newspaper that the board's decision in favor of the 50% payout was nearly unanimous, meaning the measure likely will pass in the shareholder meeting since it has government support. Recommended For You More Trending News Recommended For You More Trending News About PBR Stock Related Stocks Trending Analysis Trending News
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