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Petrobras’ board agreed on a 50% extraordinary dividend payout from 2023, agreeing on a compromise from investors who wanted a 100% payout. The total outflow would amount to ~$4.23bn to its shareholders, including the government. This comes after pressures from Brazilian Lula to Petrobras, wanting them to keep all the funds to reinvest in Petrobras’s operations. Petrobras’ CEO Jean Paul Prates said that the board’s decision was almost unanimous, with just one vote against the proposal.
Petrobras’ dollar bonds were trading stable with its 5.6% 2031s at 94.83, yielding 6.57%.
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