Pursuant to the Company By-Laws, Petrobras has mandatory minimum dividends of 25% of the adjusted clear profit. Preferred shares will have priority in the case of capital reimbursement and receipt of dividends at least of 5% (five percent) calculated on part of the capital represented by this kind of share, or 3% (three percent) of the net worth of the share - the higher always prevailing -, participating equally with the common shares in the increases in capital stock after including provisions and profits.
Preferred shares will participate on a non-cumulative basis under equal conditions with common stock in the distribution of dividends when more than the minimum percentage assured them in the previous paragraph. Moreover, the CVM Securities Commission dictates a dividend payment of 10% higher for PN shares on a preferential basis (calculated on a minimum dividend of 25% of adjusted net profits). What happens in the case of Petrobras is that the priority for receiving 5% of the capital relating to PN shares is generally more than the 10% preferred stock. For further information access Dividend Policy and Dividends Distribution Record.
Important: In order for Petrobras shareholders to receive their rightful dividends, it is essential that they constantly update their registration data, informing any change of address or bank account for crediting dividends. This update should be made at any branch of the Banco do Brasil S.A. (if custody is by this bank) or requesting the stockbroker should the shares be under the custody of CBLC.
We also recall that, pursuant to the Corporate Act (Law 6404/76, art. 287, amended and with provisions added by Law 10,303/2001) (*), the share, in the case of dividends, lapses in three years after the date when they have been put at the disposal of the shareholder.