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Petrobras decides to distribute R$ 48.5 billion in dividends to shareholders, while the people go hungry and suffer from inflation

State-owned company distributes more than 100% of its results to shareholders – most of them foreigners edit




247 – The 2016 coup, which ousted former president Dilma Rousseff so that private Petrobras shareholders could profit from abusive prices charged to Brazilian society for gasoline, cooking gas and other oil products, continues to wreak havoc. Last night, the company announced that it will distribute BRL 48 billion to its shareholders, after profiting BRL 44 billion in just three months, while the Brazilian people go hungry and suffer from the inflation that has in the price policy of Petrobras. its main cause. Today, most of the state-owned company’s shareholders are foreigners, as economist Uallace Moreira demonstrates:

SAO PAULO (Reuters) – Petrobras’ Board of Directors approved the distribution of dividends in the amount of 3.715490 reais per outstanding preferred and common share, totaling 48.5 billion reais, according to information from the company this Thursday.

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The amount does not include the installment announced in February, and will be paid in two installments of BRL 1.857745 per outstanding preferred and common share, one on June 20, and the other on July 20, 2022.

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ADR holders will receive payments starting June 27, 2022 and July 27, 2022, respectively, the company said.

The president of the state-owned company, José Mauro Coelho, said in a statement that “for years, Petrobras failed to pay dividends to the Union and any shareholder, and made investments that did not generate results, which led to the company’s high indebtedness, reaching the biggest among companies in the world”.

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“Now we live in a new reality, with a focus on efficiency. The resources generated by Petrobras are reversed in investments made with responsibility and that generate greater economic development and generation of jobs and income for Brazilians”, he added.

“Approval of the proposed dividend is compatible with the company’s financial sustainability and is in line with its commitment to creating value… as well as the best practices of the global oil and natural gas industry.”

In addition to dividends, the results achieved by Petrobras also return through the payment of taxes. According to the company, in the first quarter almost 70 billion reais were paid in taxes, royalties and government participation.

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