HOUSTON, TEXAS (Editors at Energy Analytics Institute, 26.Feb.2025) — The Board of Directors of Petrobras authorized the submission to the Annual General Meeting (AGM), scheduled for 16 Apr. 2025, of the proposal for the distribution of dividends equivalent to R$9.1bn.
If approved by the AGM, considering the amounts advanced by the company throughout the year, duly adjusted by the Selic rate, shareholder remuneration related to the 2024 fiscal year will total R$75.8bn, comprising R$73.9bn in dividend and interest on equity (JCP) distribution and R$1.9bn in share buybacks, Petrobras said 26 Feb. 2025 in an official statement.
The proposed distribution is aligned with the current Shareholder Remuneration Policy, which establishes that, in the event of gross debt equal to or less than the maximum debt level defined in the current strategic plan, and subject to the other conditions of the Policy, Petrobras shall distribute 45% of its free cash flow to shareholders. This distribution is consistent with the financial sustainability of the company.
The proposed dividends for the year already account for adjustments by the Selic rate on the dividends and JCP advanced for the 2024 fiscal year, amounting to R$0.6bn, which have also been deducted from the total shareholder remuneration. Additionally, it is worth noting that no share buybacks occurred during the fourth-quarter 2024.
The proceeds will be paid in 2 installments in May and Jun. 2025, as follows:
Amount to be paid: R$ 0.70954522 per outstanding common and preferred share, distributed as follows:
i he first installment, amounting to R$0.35477261 per outstanding common and preferred share, will be paid on 20 May 2025, entirely in the form of dividends.
ii the second installment, amounting to R$0.35477261 per outstanding common and preferred share, will be paid on 20 Jun., 2025, entirely in the form of dividends.
Record date: 16Apr. 2025, for holders of Petrobras shares traded on B3, and record date on 22 Apr. 2025, for holders of ADRs traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded ex-rights on B3 starting 17 Apr. 2025.
Payment dates: for holders of Petrobras shares traded on B3, the first installment will be paid on 20 May 2025, and the second installment on 20 Jun. 2025. ADR holders will receive payments starting 28 May 2025, and 27 Jun. 2025, respectively.
It is important to highlight that the amounts of each installment will be updated by the variation of the Selic rate from 31 Dec. 2024, until the payment date. Income tax will be levied on this monetary adjustment, as per current legislation.
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
