Petrobras will pay minimum dividends until it hits the expected deleverage target for 2020, with the aim of using the cashier to reduce the company’s debt. The information is from the Executive Director of finance and relationship with investors of the state, Andrea Almeida.
The oil tanker aims to achieve in the next year leverage measured by the net debt indicator on EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted from 1.5 instead. Focused on achieving the economic balance, the company has carried out a sequence of investments that resulted in a cumulative of US $15 billion until July with the sale of assets considered non-essential.
For the president of Petrobras, Roberto Castello Branco, the oil company should not pay dividends until liquidating its debts, however, currently there are rules that impose to the airline the obligation to make minimum payments to shareholders when there is Profit.
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