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PBR » Topics » RESOLUTIONS OF THE ORDINARY GENERAL MEETING

This excerpt taken from the PBR 6-K filed Apr 9, 2009.

RESOLUTIONS OF THE ORDINARY GENERAL MEETING

The Board of Directors of Petróleo Brasileiro S.A. – PETROBRAS summoned the Shareholders to the Ordinary General Meeting held on April 8, 2009, at 3:00 pm in the auditorium of the Company's head office building at Av. República do Chile, nº 65, 1st floor, in the City of Rio de Janeiro (RJ), which deliberated upon and approved the following items:

I. Management Report and Financial Statements with Fiscal Council’s Opinion for the fiscal year 2008;

II. Capital Expenditure Budget for fiscal year 2009, as follows in R$ 36.369.785.182,00:

   
(in R$)
Direct investments    36.369.785.182 
Project Finance    938.685.536 
Capital increases in subsidiaries and other companies    5.229.464.446 
   
2008 capital expenditures budget    42.537.935.164 
 
Direct investments    20.594.470.718 
Capital increases    5.229.464.446 
   
Own resources    25.823.935.164 
 
Direct investments    15.775.314.464 
Project finance    938.685.536 
   
Third party resources    16.714.000.000 

Out of total direct investments, 50,4% will be used in the Exploration and Production Area, 32,8% in the Downstream Area, 10,5% in the Gas & Energy and 6,3% in other business areas.

III. Distribution of results for the fiscal year 2008, as follows:

Destination   
(R$ million) 2008 
Net Income for the Period    36.470 
( -) Legal reserve (5%)   (1.824)
( -) Fiscal Incentive Reserve    (557)
( -) Statutory reserves    (395)
(=) Adjusted Net Income    33.694 
 
Dividends – 29,04% (31,44% in 2007)   9.915 
     Interests on equity 
   7.020 
     Dividend    2.895 
Profits retention reserve    23.779 

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