LatinNews Daily - 29 July 2022

* Brazil’s state-controlled oil company, Petrobras, has authorised a record dividend payout of R$87.8bn (US$16.93bn). Petrobras said in a securities filing that its executive board had approved dividend payouts of R$6,732 per ordinary and preferential share. This will result in a major windfall for the federal government, which is by far the largest shareholder in the company – increasing the government’s spending power in the run-up to the October elections, in which polls currently show President Jair Bolsonaro losing to leftist former president Luiz Inácio Lula da Silva (2003-2011). A first instalment of R$3,366 per share is due to be paid on 1 August, with the remainder of the payout set to follow on 20 September.

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