PBR - Petrobras Reportedly Pulls Back On Dividends | Benzinga
On Monday, two Brazilian cabinet members said that a proposed extra dividend suddenly axed by state-run Petrobras Brasileiro (NYSE:PBR) will be kept in reserve for future disbursement.
On Thursday, Petrobras Chief Executive Jean-Paul Prates proposed to the company’s board that shareholders be paid 50% of a potential 44 billion reais ($8.8 billion) extraordinary dividend as per the company’s bylaws, but government-appointed board members voted to withhold the money, reported ...