Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of shareholder remuneration in the amount of R$ 1.149304 per common and preferred share, as anticipation for 2023, declared based on the balance sheet of June 30, 2023.
The approved shareholder remuneration is in line with the improved Shareholder Remuneration Policy, disclosed on 07/28/2023, which provides that in case of gross debt equal to or lower than the maximum debt level defined in the strategic plan in force (currently at US$ 65 billion), Petrobras may distribute to its shareholders 45% of the free cash flow.
The approval of the proposed shareholder remuneration is compatible with the company’s financial sustainability and is in line with the commitment to create value for society and shareholders, as well as with the best practices of the global oil and natural gas industry.
The shareholder remuneration will be paid in two installments in November and December, as follows:
Amount to be paid: R$ 1.149304 per common and preferred share, whereby:
(i) the first installment, in the amount of R$ 0.574652 per common and preferred share, will be paid on November 21, 2023.
(ii) the second installment, in the amount of R$ 0,574652 per common and preferred share, will be paid on December 15, 2023.
Record date: August 21, 2023 for holders of Petrobras shares traded on B3 and August 23, 2023 for ADR holders traded on New York Stock Exchange (NYSE). Petrobras shares will be traded ex-dividends on B3 and NYSE as of August 22, 2023.
Payment date: For holders of Petrobras shares traded on B3, first payment will be made on November 21, 2023 and second payment will be made on December 15, 2023. ADR holders will receive payments starting on November 30, 2023 and December 22, 2023, respectively.
Form of distribution: The first installment of payment will be made as follows: (a) dividends, of R$ 0.2091769 per common and preferred share; and (b) interest on equity of R$ 0.365476 per common and preferred share. The second installment will be paid in full as dividends.
It is important to note that these proceeds will be deducted from the dividends to be approved at the 2024 Annual General Meeting for the 2023 fiscal year, with their values being readjusted by the Selic rate from the date of payment of each installment until the end of the current fiscal year for calculation purposes of the deduction.
The Shareholders’ Remuneration Policy can be accessed on the company’s website (http://www.petrobras.com.br/ir).
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