(Petrobras, 8.Aug.2024) — Petrobras informs that its Board of Directors approved, in a meeting held today, the payment of interim and intermediate dividends, as well as interest on equity (JCP), in the amount of R$13.57bn, equivalents to R$1.05320017 per outstanding common and preferred share.
The proposed distribution is in line with the current Remuneration Policy for Shareholders (“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 $65bn) and positive accumulated results, Petrobras may distribute 45% of the free cash flow to its shareholders.
In an accumulated view of the semester, the application of the referred Policy formula returns a total dividend payment of R$27bn, which exceeds the semester available accumulated result (R$20.6bn), due to exclusive items of this quarter that had a residual impact on cash flow. Therefore, it was necessary to use R$6.4bn from the capital remuneration reserve, resulting in a remaining balance of R$15.5bn in this reserve.
It is worth noting that the proposed dividends are compatible with the Company’s financial sustainability and already take into account the value of shares repurchased in the second quarter of 2024 (R$772mn), which has been deducted from the total shareholders remuneration, calculated according to the Policy formula.
The dividends and the interest on equity will be paid in two installments in the months of Nov. and Dec., as follows:
Amount to be paid: R$1.05320017 per outstanding common and preferred share in circulation, whereby:
(i) the first installment, in the amount of R$0.52660009 per outstanding common and preferred share in circulation, will be paid on 21 Nov. 2024, of which R$0,11384838 in the form of dividends and R$0,41275171 in the form of interest on equity.
(ii) the second installment, in the amount of R$0,52660008 per outstanding common and preferred share in circulation, will be paid on 20 Dec. 2024 in the form of dividends.
It is also relevant standing out that income tax will be levied on the amount corresponding to interest on equity (JCP), in accordance with the current tax legislation.
Record date: on 21 Aug. 2024 for holders of Petrobras shares traded on B3 and on 23 Aug. 2024 for holders of ADRs traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded ex-rights on B3 as of 22 Aug. 2024.
Payment date: For holders of Petrobras shares traded on B3, the first payment will be made on 21 Nov. 2024 and the second payment will be made on 20 Dec. 2024. ADR holders will receive payments starting on 29 Nov. 2024 and on 30 Dec. 2024, respectively.
It is important to note that these payments will be deducted from the remuneration to shareholders to be approved at the 2025 Annual General Meeting for the 2024 fiscal year, and their amounts will be adjusted by the Selic rate from the date of payment of each installment until the end of the current fiscal year for the purpose of calculating the deduction.
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