With high volatility. This is how the shares of Petrobras (PETR4) performed this Thursday (4). At the end of the morning, the news of the imminent departure of the CEO, Jean Paul Prates, dropped the shares.
However, shortly after 12pm, the newspaper The globe stated that Lula’s ministers sealed an agreement for the payment of extra dividends from Petrobras. This caused the shares to soar, approaching R$40.
Between the minimum and maximum, this morning, the Petrobras shares jumped almost 5%.
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At the end of the day, however, they ended with a drop of 1.41%, quoted at R$37.88.
According to The globethe distribution of 100% of the approximately R$43.9 billion extra to the oil company’s shareholders was agreed yesterday by the ministers, at the meeting held at the Civil House, in which some assistants also participated.
Petrobras (PETR4): high volatility
Check out the movement in Petrobras (PETR4) shares this Thursday below:
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First, the stock collapsed with increasing rumors of Prates’ departure and then jumped with the possible return of extraordinary dividends, but it melted throughout the afternoon.
At the low of the session, with rumors of Prates’ departure, the stock was at R$37.43, while at the high it was R$39.48.
Dividend to improve tax
According to The globea meeting on Wednesday at Palácio do Planalto between the Ministers of Finance, Fernando Haddad, of Mines and Energy, Alexandre Silveira, and Rui Costa, of the Civil House, sealed the decision to pay Petrobras’ extraordinary dividends, which were withheld by the board administration in March.
The publication states that Petrobras executives, including the CEO, Jean Paul Prates, have already been notified.
“The decision will now be taken to President Lula for approval, but, given the consensus between the three ministers, the assessment at Petrobras is that the payments should be released”, points out the text.
Therefore, the expectation is that the proposal will be deliberated at the company’s meeting, scheduled for April 19th.
Haddad
According to columnist Malu Gaspar, The globe, Haddad complained about frustration with expected revenue from tax benefits. Thus, Petrobras’ dividends could help the government meet its fiscal target.
“The decision is a victory for Fernando Haddad over Rui Costa and Silveira, who defended holding on to the resources, claiming that without them the company could run the risk of not having enough money to support the investment plan,” wrote the columnist.