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Petrobras (PETR3;PETR4) approves dividends in the amount of BRL 3.715490 per share

Petrobras’ board of directors (PETR3;PETR4) approved dividends in the amount of R$3.715490 per outstanding preferred and common share, the company said on Thursday (5).

Payment will be made in two equal installments, with the first installment, in the amount of R$1.857745 per outstanding preferred and common share, to be paid on June 20, 2022.

The second installment, in the amount of BRL 1.857745 per preferred and common share, will be paid on July 20, 2022.

The cut-off date will be May 23, 2022 for holders of shares issued by Petrobras traded on B3 (i.e., it will be traded ex-dividend from the 24th) and the record date will be on May 25, 2022. 2022 for holders of ADRs traded on the New York Stock Exchange (NYSE).

Of the amount approved, (i) R$ 3.138754 per share refers to the anticipation of the remuneration to shareholders for the year 2022 and will be declared based on the balance sheet as of March 31, 2022 (interim dividends); and (ii) R$ 0.576736 per share will be paid to the profit retention reserve account included in the balance sheet for fiscal year 2021 (interim dividends).

The state-owned company highlighted that the proposed dividend is in line with the Shareholder Remuneration Policy, which provides that, in the event of gross indebtedness of less than US$ 65 billion, Petrobras will be able to distribute to its shareholders 60% of the difference between operating cash flow and the acquisition of fixed and intangible assets (investments). In addition, the Policy also provides for the possibility of paying extraordinary dividends, provided that the Company’s financial sustainability is preserved.

“Approval of the proposed dividend 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 the best practices of the global oil and natural gas industry,” said the company.

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