Petrobras Announces Substantial Dividend Payment After Strong Quarter ...Middle East

Brazil’s state oil firm Petrobras will pay $2.1 billion in dividends for the first quarter after posting a jump in net income due to one-off items.  Petrobras reported a net income of $6.2 billion (35.2 billion Brazilian reals) for the first quarter, up by 48.6% from a year earlier, due to one-off items and more favorable exchange rates.  Without the one-off items, net income dropped by 12.1% year-over-year.  Petrobras’ board of directors approved the payment of interim dividends of $2.1 billion (11.72 billion reals),…

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