Distribution of R$6.7 billion refers to participation in the profit of the 1st quarter; each share will receive R$0.52
Petrobras will pay this Friday (September 20, 2024) the 2nd installment of ordinary dividends and JCP (interest on equity) for the 1st quarter. R$6.7 billion will be distributed by the state. Investors who had common or preferred shares outstanding until March 31, 2024 will receive them.
The amount refers to the portion of the state-owned company’s profit reported in the 1st quarter of 2024, which was R$23.7 billion. The total dividends and JCP was R$13.4 billion, with the 1st installment of R$6.7 billion being paid on August 20.
To pay the 2nd installment, R$0.52 per share will be distributed, R$0.44 in the form of dividends and the remainder referring to interest on equity, according to Petrobras.
The distribution is in line with the state-owned company’s Shareholder Remuneration Policy, which establishes that, in the event of gross debt equal to or lower than the maximum level set in the strategic plan (currently US$ 65 billion), Petrobras is obliged to distribute 45% of its free cash flow to its shareholders.
In the first quarter of 2024, Petrobras’ free cash flow was R$32.4 billion. Net income of R$23.7 billion was 38% lower than that recorded in the same period last year. And 23.7% lower compared to the fourth quarter of 2023.
As shown by the Poder360Petrobras was the company that paid the most dividends in Brazil in 2024. R$63.9 billion was distributed to investors from January to August.
Dividends are the portion of profits distributed to shareholders as remuneration for their investment. They are paid on terms determined by companies and do not necessarily follow the financial calendar.
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