Petrobras Attempts To Salvage Market Value

Petrobras Attempts To Salvage Market Value

OilPrice.com

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A few days after losing $14 billion in market value, Brazil’s state-run oil company, Petrobras, said it may dole out a special dividend after all, CEO Jean-Paul Prates said Monday, which could be the subject of a vote during April’s meeting of shareholders.  Brazil's shares crashed on Friday, shaving $14 billion off the company’s market value after it disappointed investors by skimping on its dividend, with the ramifications spilling beyond Petrobras and into the wider Brazilian stock market. Also contributing to the 11%…

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