According to the company’s website press release on November 3, 2022, Petrobras, following up on the releases disclosed, informs that its Board of Directors, at a meeting held on this date, approved the payment of a dividend in the amount of R$ 3.3489 per outstanding preferred and common share.
The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that in case of gross debt below US$ 65 billion, Petrobras may distribute to its shareholders 60% of the difference between operating cash flow and acquisitions of fixed and intangible assets (investments). In addition, the Policy also foresees the possibility of paying extraordinary dividends, provided that the financial sustainability of the Company is preserved.
The approval of the proposed dividend is compatible with the company's financial sustainability in the short, medium and long term and is aligned with the commitment of value generation for the society and for the shareholders, as well as with the best practices in the world oil and gas industry.
It is worth noting that in the Strategic Plan 2022-26 the investment projects requested by the business areas were met because they presented good resilience and are supported by operating cash generation and the flow of divestments, with no adverse effects on leverage. Therefore, there are no investments held back by financial or budgetary constraints and the decision to use the surplus resources to remunerate shareholders presents itself as the most efficient one for optimizing the allocation of cash.
Of the approved amount, (i) R$ 3.144797 per share refers to the anticipation of shareholder remuneration for 2022 and will be declared based on the balance sheet of September 30, 2022; and (ii) R$ 0.204103 per share will be paid out of profit retention reserves on the balance sheet for fiscal year 2021.
The dividends will be paid in two equal installments in December 2022 and January 2023, as follows:
Amount to be paid: R$ 3.3489 per common and preferred share outstanding, whereby:
- the first installment, in the amount of R$ 1.67445 per outstanding preferred and common
share, will be paid on December 20, 2022.
- the second installment, in the amount of R$ 1.67445 per preferred and common share, will be paid on January 19, 2023.
Record date: November 21, 2022 for holders of Petrobras shares traded on B3 and November 23, 2022
for ADR holders traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded exdividend on B3 and the NYSE as of November 22, 2022.
For more information:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investors Relations
e-mail: petroinvest@petrobras.com.br/acionistas@petrobras.com.br
Av. Henrique Valadares, 28 – 19 Andar – 20231-030 – Rio de Janeiro, RJ.
Tel.: 55 (21) 3224-1510/9947 | 0800-282-1540
