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Reuters
Brazil’s Petrobras to pay out $8.5 billion dividend amid squabble
SAO PAULO (Reuters) -Brazilian state-run oil company Petrobras will distribute dividends of around 43.68 billion reais ($8.5 billion) on its third quarter results, the firm said on Thursday, amid controversy over its massive payouts. Petroleo Brasileiro SA, as it is formally known, has been a cash cow for its investors in recent quarters, including the Brazilian government, which owns a controlling stake in the company. For a second consecutive quarter, the firm will pay out to its shareholders at least double the amount distributed by each of the five biggest Western oil producers – Exxon Mobil Corp, Chevron Corp., Shell PLC, TotalEnergies and BP.
