Petrobras Ends Dividend Dispute with $4.3 Billion Payout
Brazil's government approves a 50% extraordinary dividend payout after weeks of contention, benefiting from its majority stake.
- A seven-week dispute over Petrobras’s dividends concludes with a $4.3 billion payout to investors.
- Brazil's federal government, holding over 50% of voting shares, becomes the main beneficiary.
- The decision marks a strategic victory for CEO Jean Paul Prates and Finance Minister Fernando Haddad.
- Shareholders also ratified a new board of directors to guide Petrobras through 2026.
- Critics argue the payout favors financial markets, potentially sparking political backlash.
Financial Post 