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Stock impact report

Petrobras Investors Come Out Ahead After Drama Over Dividends in Brazil [BNN Bloomberg (Canada)]

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: BNN Bloomberg
Brazil's federal government, which controls the company, proposed to pay half of available extraordinary dividends at a Thursday shareholders meeting, backtracking from a previous decision to withhold the payout. The move, which was approved by shareholders, settles a dispute that had roiled markets and intensified a power struggle between Chief Executive Officer Jean Paul Prates and members of the Lula administration. On April 19 the majority of Petroleo Brasileiro SA's board endorsed the 50% payout ahead of the shareholders meeting. The government justified the reversal from a decision not to pay in March by saying it wouldn't undermine the company's finances. ©2024 Bloomberg L.P. Show less Read more
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