Petrobras’ resource reserve (PETR4) can only be used for dividends, says CFO – Money Times

Petrobras, PETR4
Petrobras approves the creation of a capital remuneration reserve. (Image: Petrobras Agency)

Proposed by Petrobras (PETR3; PETR4) for the creation of a capital remuneration reserve, approved by the board and announced the day before, with the aim of guaranteeing resources solely for the payment of dividends, CFO Sergio Caetano Leite told Reuters this Tuesday (24).

The idea, according to the executive, aims to improve the company’s governance, ensuring that shareholders receive their dividends in accordance with the company’s current rules, “no matter what happens”.

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The proposal will be deliberated at a shareholders’ meeting to be called in due course.

The executive also said that there is still no decision on the payment of extra dividends, which should only happen at the end of the year.

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