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Exclusive - Petrobras turnaround could yield first dividend in years in 2017

Reuters  |  NEW YORK 

By Marta Nogueira and Simon WebbNEW YORK (Reuters) - Brazil's state-controlled oil company Petrobras will pay its first shareholder dividend in three years if the company turns a profit in 2017, Chief Executive Officer Pedro Parente said on Wednesday.Parente took the helm of the world's most indebted energy company a year ago and said he is ahead of schedule with an aggressive restructuring plan to cut its $95 billion (73.26 billion pounds) debt, reduce costs and sell assets.Petroleo Brasileiro SA, or Petrobras, made a record operating profit in the first quarter and if that continues ...

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First Published: Thu, May 18 2017. 05:11 IST