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The potential return of extraordinary profits is sending Petrobras (PETR4) stock higher

The potential return of extraordinary profits is sending Petrobras (PETR4) stock higher

With high volatility. This is how Petrobras (PETR4) shares are this Thursday (4). At the end of the morning, the company's shares fell due to news of the imminent departure of CEO, Jean-Paul Prats.

However, shortly after 12 noon, the newspaper published the world He stated that Lula's ministers had signed an agreement to pay additional dividends from Petrobras. This sent shares soaring to close to R$40.

Between the minimum and maximum, this morning, Petrobras shares jumped nearly 5%..

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At 12:40 p.m., shares were up 1.38%, at R$38.96.

According to the newspaper, it was agreed to distribute 100% of the additional amount of approximately 43.9 billion Brazilian riyals to the shareholders of the oil company, yesterday, by the ministers, in the meeting held at the Civic House, in which some aides also participated.

Petrobras (PETR4): High volatility

Check out the movement in Petrobras (PETR4) shares this morning below.

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First, the stock collapsed as rumors of Pratts' departure grew, then it soared on the prospect of a return to extraordinary profits.

At the low of the session, with rumors of Prats' departure, the stock was at R$37.43, while at the high it was R$39.48.

Profits to improve taxes

according to the worldA meeting held on Wednesday in the Palacio do Planalto between the Finance Ministers Fernando Haddad, Minister of Mines and Energy, and Alexandre Silveira and Rui Costa, of the Civic House, decided to pay Petrobras extraordinary dividends, which had been withheld by the government. Board administration in March.

The publication notes that Petrobras executives, including CEO Jean-Paul Prats, have already been notified.

“The decision will now be submitted to President Lula for approval, but in light of the consensus among the three ministers, the assessment in Petrobras is that the payments should be released,” the text notes.

Therefore, the proposal is expected to be discussed at the company meeting scheduled for April 19.

Smith

According to writer Malu Gaspard, the worldHaddad complained of frustration with the expected revenue from the tax benefits. Petrobras' profits can therefore help the government achieve its fiscal target.

“The decision is a victory for Fernando Haddad over Rui Costa and Silveira, who had defended resource retention, claiming that without it the company could run the risk of not having enough funds to support the investment plan,” the columnist wrote.

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