Reported about 5 hours ago
Petrobras announced a dividend payout of 9.1 billion reais ($1.6 billion), significantly lower than the anticipated 2.8 billion, due to a surprise net loss of 17 billion reais ($2.9 billion) in the fourth quarter, linked to accounting issues from currency devaluation. This marks a drop of about half from the previous quarter, disappointing investors despite a historical trend of strong dividends supporting the Brazilian government's finances. The company aims to stabilize production and continue investing in oil and gas, while balancing political pressures as federal elections approach.
Source: YAHOO