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Petrobras Board Said To Discuss New Dividend Policy On Friday

BRAZIL
  • (Reuters) - The board of directors of Brazilian state-run oil company Petrobras is set to meet on Friday to discuss its new dividend policy and a potential share buyback program, a source familiar with the matter said on Thursday.
    • Executives at the firm previously said the new dividend policy was being prepared by a working group and expected to be voted on by the end of this month, with its second-quarter dividends likely to be already based on the new policy.
    • Chief Executive Jean Paul Prates told Reuters earlier this month that investors should not get used to the blockbuster dividends they enjoyed last year, saying the new policy would be "adjusted" to the reality of a company investing in the future.

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