UPDATE 1-Petrobras shareholders approve payout of 50% of withheld dividends [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
RIO DE JANEIRO, April 25 (Reuters) - Shareholders of Petrobras voted on Thursday for the Brazilian state-run oil firm to pay out 50% of the extraordinary dividends it withheld in March, easing investor concerns about the destination of those funds. Petrobras is set to dole out about 22 billion reais ($4.26 billion) relative to its 2023 results, while the remaining 50% will be kept in a fund for future disbursement, which the government signaled could happen by the end of this year. The vote settles a matter that rocked the oil giant since its government-controlled board decided to withhold the extra dividends, which surprised markets and sent Petrobras' shares tumbling the following day. The decision ignited concerns that the government would order Petrobras to use that money for investments, as President Luiz Inacio Lula da Silva has expressed his wish to use the state-run firm to boost Brazil's economy and create jobs. ($1 = 5.1666 reais) (Reporting by Fabio Teixeira and Mart
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