Petrobras on remuneration to shareholders
Rio de Janeiro, May 13, 2024 - Petróleo Brasileiro S.A – Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of interim dividends and interest on own capital in the amount of R$ 13.45 billion, equivalent to R$ 1.04161205 per outstanding common and preferred share, in anticipation of the remuneration to shareholders for the year 2024, declared based on the balance sheet of March 31, 2024.
The proposed distribution is in line with the current Shareholder Remuneration Policy, which states that, in the event of gross debt equal to or lower than the maximum level of gross debt defined in the current strategic plan (currently US$65 billion), Petrobras may distribute 45% of free cash flow to its shareholders. This approval is compatible with the company’s financial sustainability. The proposed dividends already take into account the amount of shares repurchased in the first quarter of 2024 (R$1.1 billion), which has been deducted from the total remuneration to shareholders calculated in accordance with the Policy’s formula.
Dividends and interest on own capital will be paid in two installments in August and September, as follows:
Amount to be paid: R$1.04161205 per outstanding common and preferred share, whereby:
(i) the first installment, in the amount of R$ 0.52080603 per outstanding common and preferred share, will be paid on August 20, 2024 in the form of interest on own capital.
(ii) the second installment, in the amount of R$ 0.52080602 per outstanding common and preferred share, will be paid on September 20, 2024, of which R$ 0.44736651 in the form of dividends and R$ 0.07343951 in the form of interest on own capital.
Record date: on June 11, 2024 for holders of Petrobras shares traded on B3 and on June 13, 2024 for holders of ADRs traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded ex-rights on B3 as of June 12, 2024.
Payment date: For holders of Petrobras shares traded on B3, the first payment will be made on August 20, 2024 and the second payment will be made on September 20, 2024. ADR holders will receive payments starting on August 27, 2024 and on September 27, 2024, respectively.