- Results by Business Segment
- Results per Company
- Volume of Sales
-
Inventories
-
Investments
- Indebtedness
- Return on Capital Expenditure (ROCE) and Return on Equity (ROE)
- Assets and Liabilities Subject to Exchange Variation
- Net Equity, Distribution of Results and Dividends
Net Equity, Distribution of Results and Dividends
At December 31, 2009, the shareholders’ equity of Petrobras (Parent company) was R$ 163,879 million, corresponding to R$ 18.68 per share.
The Company’s market value was R$ 347,085 million.
a) Distribution of income for the year
The following distributions are being proposed for the Parent Company’s net profit:
| r$ million | ||
|---|---|---|
| NET INCOME FOR THE YEAR | 29,313 | |
| DISTRIBUTIONS: | ||
| TO RESERVES: | ||
| Legal reserve (article 193 of Law 6404/76) recorded at the rate of 5% of net income | 1,466 | |
| Statutory reserve (article 194 of Law 6404/76) | 395 | |
| Tax incentive reserve (article 195 - A of Law 6404/76) | 554 | |
| Profit retention (article 196 of Law 6404/76) | 18,563 | 20,978 |
| TO SHAREHOLDERS: | ||
| Interest on shareholders’ equity | 7,195 | |
| Dividends | 1,140 | 8,335 |
b) Capital Increase
The capitalization of part of the profit reserves in the amount of R$ 5,627 million is being proposed to the Special General Shareholders’ Meeting on April 22, 2010, of which R$ 899 million is from the statutory reserve and R$ 4,713 million is from the profit retention reserve, pursuant to article 199, of Law 6404/76, and R$ 15 million is from part of the tax incentive reserve formed in 2009, in compliance with article 35, paragraph 1, of Ordinance 2091/07 of the Government Ministry of National Integration and from capital reserves in the amount of R$ 515 million, without issuing new shares, increasing the capital from R$ 78,967 million to R$ 85,109 million, pursuant to article 169, paragraph 1, of Law 6404/76.
c) Proposal for Profit Retention
In the General Shareholders’ Meeting to be held on April 22, 2010, a profit retention of R$ 18,573 million is being proposed, and the portion of R$ 18,563 million, originating from the income for 2008 and R$ 10 million from the remaining balance of income originating from prior years, which is earmarked to partially meet the Company’s annual investment program, established in the capital budget for 2010, is also to be decided in the General Shareholders’ Meeting.
d) Shareholders’ Remuneration
The Board of Directors of Petrobras, based on statutory provisions, is proposing to the General Shareholders’ Meeting to be held on April 22, 2010, the distribution of a dividend related to 2009 in the amount of R$ 8,335 million, corresponding to 30.53% of the basic profit for purposes of a dividend equivalent to R$ 0.95 per common and preferred share, without distinction, as presented below:
| Statement of basic profit of the Parent Company for dividend purposes | r$ million |
|---|---|
| Balance of proposed dividends | 2,169 |
| NET INCOME FOR THE YEAR | 29,313 |
| ALLOCATION: | |
| Legal reserve (article 193 of Law 6404/76) | (1,466) |
| Tax incentive reserve | (554) |
| (+) REVERSALS/ADDITIONS: | |
| Revaluation reserve | 10 |
| (=) BASIC PROFIT FOR DETERMINING THE DIVIDEND | 27,303 |
| DIVIDEND PROPOSED, EQUIVALENT TO 30.53% OF THE BASIC PROFIT - R$ 0.95 PER SHARE (29.04% IN 2008, R$ 1.13 PER SHARE) COMPOSED OF: |
|
| Interest on shareholders’ equity | 7,195 |
| Dividends | 1,140 |
| TOTAL PROPOSED DIVIDENDS | 8,335 |
| LESS: | |
| Interest on shareholders’ equity paid in advance | (6,142) |
| Restatement of interest on shareholders’ equity paid in advance | (24) |
| (6,166) |
The dividends proposed for 2009 include the portion of interest on shareholders’ equity in the amount of R$ 7,195 million (R$ 0.82 per share), from which interest on shareholders’ equity paid in advance in the amount of R$ 6,142 million will be discounted, subject to the withholding of income tax at source of 15%, except for shareholders that are immune and exempt, and restated by the SELIC rate from the date of payment until December 31, 2009. The final portion of interest on shareholders’ equity, together with the dividends, in the amount of R$ 1,140 million, will be made available based on the shareholding position as of April 22, 2010, the date of the General Shareholders’ Meeting, which will decide on the issue. These amounts will be monetarily restated as from December 31, 2009 in accordance with the variation of the SELIC rate until the date of the beginning of the payment, to be defined in the General Shareholders’ Meeting.