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PBR » Topics » 6. Parent Company Net Income for Dividend purposes

This excerpt taken from the PBR 6-K filed Mar 12, 2007.

6. Parent Company Net Income for Dividend purposes

    R$ million 
    Fiscal Year 
    2006 
   Net Income in the Fiscal Year    26.063 
   Appropriation:     
         Legal Reserve    (1.303)
   
    24.760 
   (+) Reversal of Reserves/Adjustments:     
               Re-evaluation Reserve    10 
             Adjustments made to Previous Fiscal Years    480 
   
   (=) Basic Profit for Dividend Purposes    25.250 
   
 
 
Proposed dividend, equivalent to 31,27% of basic net    
income - R$ 1,80 per share (31,49% in 2005, R$ 1,60 per     
share), comprised of:     
     Interest on Own Capital    6.361 
     Dividend    1.536 
   
Total Dividends Proposed    7.897 
   

Proposed dividends for 2006 amounted to R$ 7,897 million (R$ 1.80 per share), and are structured the following way:

    Value per Share    Value 
DIVIDENDS TO BE DELIBERATED AT THE GENERAL ORDINARY MEETING    ON and PN    R$ Million 
     
 
Interest on Own Capital - Approved by the Board of Directors on 10.20.2006 - Paid on01.04.2007. on the shareholder position of 10.31.2006 
   1,00    4.387 
Interest on Own Capital - Approved by the Board of Directors 12.15.2006. to be held upto 03.31.2007. on the shareholder position of 12.28.2006 
   0,45    1.974 
Dividends - Proposed by the Board of Directors on 02.12.2007 - The payment date will be determined at the General Ordinary Meeting to be held 04.02.2007. on the shareholder position of the same date 
   0,35    1.536 
 
     
TOTAL DIVIDENDS    1,80    7.897 
     

Dividends and interests on own capital will be available in its current monetary equivalent as of December 31, 2006 through the payment date agreed and using the variable SELIC rate.

PETROBRAS’ administration is proposing that both Extraordinary General Assembly and General Shareholders Meeting take place on the same date on April 2, 2007. In addition, they are proposing a capital increase of the Company, currently at R$ 48,264 million to R$ 52,644 million, through the capitalization of income reserves from prior fiscal years amounting to R$ 4,380 million, of which R$ 1,008 million is statutory reserve and R$ 3,372 million are retained earnings, without the issuance of new shares as stated in the agreement under Article Nº. 169, paragraph 1º, of the Law Nº 6.404/76.

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