THE Petrobras announced a new high volume of profits recently. According to the state-owned company, only in the second half of the year there were R$ 54 billion in profits to be distributed in dividends to its shareholders. In fact, the company revealed that it will distribute a total of BRL 88 billion to shareholders in two installments, both in August and in September.
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For those unfamiliar with the term, dividends are fractions of the profit that the shares of Petrobras or any other company have accumulated in a given period. These values are passed on to shareholders, after all they bought the shares to invest the money and receive the profit they gave back.
What is most striking, however, is that Petrobras’ decision to share more than the value of profits as a form of dividends. This means that the state-owned company preferred to reduce the amount of accumulated profit.
How much profit should Petrobras distribute to shareholders?
In practice, there is no consensus on what is the right amount of profit that can or cannot be divided among shareholders in the form of dividends. In fact, a company’s management may simply decide not to share such dividends. This happens when you invest a lot in technology and the product is recognizably differentiated, as is the case with Apple. In this case, investors need to trust the solidity of the business to keep their investments in the long term.
When thinking about Petrobras, the biggest argument against the dividend division focuses on the fact that the company serves the interests of the government, in a majority way. There is even the argument that it needs resources to finance spending during the election period.
The fact is that since the Lava Jato operations, any news that combines the terms “Petrobras” and “Profit” usually generates controversy. However, there are still disagreements among experts.