Petrobras informs that its Board of Directors (CA), in a meeting held, approved the payment of interim dividends in the amount of R$17.12 billion, equivalent to R$1.32820661 per common and preferred share in circulation, as an advance on the remuneration to shareholders for the fiscal year 2024, declared based on the balance sheet of September 30, 2024.
The proposed payment is in line with the current Shareholder Remuneration Policy, which provides that, in the event of gross debt equal to or below the maximum debt level defined in the Strategic Plan in force (currently US$65 billion), Petrobras must distribute to its shareholders 45% of its free cash flow. This distribution is compatible with the company's financial sustainability. It is also worth mentioning that, during the third quarter, there were no share buybacks.
The dividends will be paid in two installments in February and March 2025, as follows:
Amount to be paid: R$1.32820661 per outstanding common and preferred share, where:
(i) the first installment, in the amount of R$0.66410331 per outstanding common and preferred share, will be paid on February 20, 2025.
(ii) the second installment, in the amount of R$0.66410330 per outstanding common and preferred share, will be paid on March 20, 2025.
Cut-off date: December 23, 2024 for holders of shares issued by Petrobras traded on B3 and record date on December 27, 2024 for holders of ADRs traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded ex-rights on B3 starting December 26, 2024.
Payment date: for holders of Petrobras shares traded on B3, the payment of the first installment will be made on February 20, 2025 and the second installment on March 20, 2025. Holders of ADRs will receive payments starting February 27, 2025 and March 27, 2025, respectively.
Distribution method: The distribution method (whether in the form of dividends and/or interest on equity) will be defined by December 12, 2024 and will be timely communicated to the market.
It is important to note that the amounts of each installment will be updated by the variation of the Selic rate from December 31, 2024 until the date of each payment; and in the case of payment in the form of interest on equity (JCP), income tax will be levied, in accordance with current legislation. Finally, these proceeds will be deducted from the remuneration to shareholders to be approved at the 2025 Annual General Meeting for the fiscal year 2024.
