Petrobras CFO Hints at Extraordinary Dividend Possibility Following Q2 Loss
Petrobras's Dividend Opportunity
The Brazilian state-run oil company Petrobras is considering extraordinary dividend payments this year, according to Chief Financial Officer Fernando Melgarejo. This decision is contingent on cash conditions and the company's ability to generate future cash flow.
Recent Financial Performance
Petrobras recently reported a disappointing second quarter, with a net loss of 2.6 billion reais (approximately $472.22 million). This performance has prompted the company to adjust its investment forecasts.
Future Outlook
- Melgarejo emphasized that a decision on an extraordinary dividend will be made based on financial health.
- He noted that the possibility of a dividend payout in 2024 is still being considered.
Overall, while Petrobras faces immediate financial challenges, there is a potential for improved shareholder returns should conditions change favorably.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.