巴西石油公司计划使用修订后的政策来计算第二季度收益中的付款，而股息的数额将在下周的董事会上决定。The Zhitong Finance App learned that Brazil's state-owned oil producer Petrobrasil (PBR.US) said that the company approved a new dividend policy on Friday, limiting dividend payments to 45% of free cash flow.
Although the company lowered its dividend level, it used stock buybacks as an option to reward shareholders. Previously, the Brazilian state-owned oil producer allocated up to 60% of operating cash flow minus investment when total debt fell below $65 billion.
According to information, as long as the average price of Brent crude oil is higher than 40 US dollars per barrel, the company will maintain a minimum dividend payment of 4 billion US dollars per year. Additionally, the company said it will pay dividends when debt reaches or falls below the maximum level set in its strategic plan, a policy that provides shareholders with predictable payments without affecting the company's ability to grow.
Petrobras plans to use the revised policy to calculate payments in second-quarter earnings, while the amount of dividends will be decided at next week's board meeting.
It is worth mentioning that high oil prices, asset sales, and cost cuts caused Petrobras to increase shareholder dividends under the leadership of previous management. In response, during last year's election campaign, Brazilian President Luiz Inacio Lula da Silva criticized Petrobras for providing large amounts of cash to private investors, while ignoring investments in refining and energy transition.
