Federation says the oil company’s decision is “advancement”; state-owned company paid the minimum dividends
The (Single Petroleum Federation) released a note this Friday (8.Nov.2024) celebrating its decision not to pay extraordinary dividends on its performance in the 3rd quarter. According to the union, the state oil company’s move not to pay extra to its shareholders is “a step forward”. Read the note (PDF – 89 kB).
In the company’s 1st full quarterly report under the command of Magda Chambriard, the state-owned company informed that it will distribute R$17.1 billion in ordinary dividends and JCP (interest on equity). The value is the minimum stipulated by Petrobras’ strategic plan. Payment will be made in two installments in 2025.
For FUP, if Petrobras wants to advance further, it is necessary to initiate a policy of reducing dividend payments. To achieve this, it will be necessary to reformulate Petrobras’ bylaws to reduce profits and allocate more resources to investments.
“With Magda, the company shows that it pays less dividends and does not pay extraordinary dividends. On the other hand, it accelerated projects, removed PBio (from the biofuels sector) from Petrobras’ divestment policy and increased the company’s investments by more than 30% in the third quarter compared to the same period last year”declared the general coordinator of the FUP, Deyvid Bacelar.
PETROBRAS RESULTS
Petrobras made a profit of R$32.6 billion in the 3rd quarter of 2024, which represents an increase of 22.3% compared to the same period last year. This was the first time in the year that Petrobras had a higher profit compared to its performance in 2023, when it was under the management of Jean Paul Prates.
In the 9 months of the year, the oil company has a profit of R$53.7 billion, 42.7% lower than that recorded in the same period last year.
