Petrobras has paid nearly R$ 500 billion in dividends to shareholders over the last six years

247 – Petrobras distributed a total of R$ 446.4 billion in dividends to its shareholders between 2018 and 2023. This amount includes the recent approval of R$ 21.9 billion in extraordinary dividends, in addition to the R$ 14.2 billion in ordinary dividends for the fourth quarter of 2023. With the possibility of an additional R$ 21.9 billion being paid out this year, the total could reach R$ 468.3 billion, according to a report by Valor.

The distribution of R$ 446.4 billion in dividends by Petrobras has sparked debates about the state-owned company’s investor remuneration policy. This issue becomes more significant considering President Lula's promise to reduce the outflow of resources from Petrobras.

The Petrobras Ordinary General Meeting (AGO), held on April 25, was the venue where these decisions were made. During the event, the allocation of R$ 94.3 billion to shareholder remuneration for the year 2023 was approved. This amount includes anticipations approved within the same year and paid until March 2024, totaling R$ 58.2 billion.

The remaining amount, approximately R$ 36.1 billion, will be distributed now, divided between R$ 14.2 billion in ordinary dividends and R$ 21.9 billion in extraordinary dividends. These decisions reflect not only the company's financial policy but also its relationship with the government and the market.

However, opinions on dividend distribution vary. While some analysts see it as positive for shareholders and the financial stability of the company, others believe it could compromise future investments and Petrobras's ability to meet market challenges.

Additionally, groups such as the Institute of Strategic Studies on Petroleum, Natural Gas and Biofuels (Ineep) and the Unified Federation of Oil Workers (FUP) have expressed concerns about the long-term impacts of this dividend distribution policy, emphasizing the importance of reinvestment in the company and in strategic sectors for the country.