The company which faced a drop in its shares in March, performed well in April after the decision to partially pay extraordinary dividends to its shareholders. This issue should continue to set the tone for its shares until the end of this year.
Petrobras reached the end of April with the biggest increases in the Ibovespa index, the main indicator of B3.
According to the website Infomoney, the Brazilian oil company's common shares ended April with an appreciation of 18.65%, while preferred shares increased by 15.57%. In the same period, the Ibovespa fell by 1.7% on a monthly basis.
Petrobras' decision on the payment of dividends almost generated a crisis in the Lula government, with the company's president Jean Paul Prates, and the minister of Mines and Energy Alexandre Silveira publicly debating the issue. The extraordinary dividends were withheld on March 19, when the company informed the market of the distribution of 50% of the amount, equivalent to R$22 billion. Petrobras also considered the possibility of distributing the other 50% throughout 2024. The new stance relieved investors who saw the risks of political interference give a respite.
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