But none of the announcements come close to the $17 billion value of Petrobras.
the Brazilian government, which controls the majority of the company’s voting shares, Last month he asked Petrobras and other state companies to increase their dividends to finance new federal spending programs.
The call came as President Jair Bolsonaro’s government, which faces an uphill battle for re-election this year, skirted a constitutional spending ceiling last month to finance increased cash transfer payments to low-income people.
Petrobras will distribute about 60% more to its shareholders than its $10.5 billion profit (54,330 million reais). Critics say the huge outlay will hurt the company’s business investments.
Source: Ambito
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