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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.

Overview

  • 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.