Petrobras cuts dividend forecast for 2026-2030
Oil company Petrobras from Brazil is reducing its dividend forecast because it expects lower crude oil prices in the coming years.
The company has revised its Brent price outlook downward (around $63 per barrel vs. $77 previously), which reduces projected cash flows. As a result, Petrobras is cutting planned investments slightly and lowering its ordinary dividend outlook for 2026–2030. It also removed extraordinary dividends from the new plan.
In the new 2026–2030 plan, the company forecasts $45–50 billion in ordinary dividends, down from the up to $55 billion projected in last year’s plan. Petrobras also removed extraordinary dividends, whereas the previous plan had estimated up to $10 billion in special payouts.
Petrobras Brazil listed shares are down 4.7% YTD at a stock price of 32.00 BRL as of December 2, 2025. The current dividend yield is 10.2% with Petrobras paying multiple dividends annually by combining interim dividends with extra payments. In 2025 Petrobras already paid 15 dividends.
