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PBR » Topics » 7. Statement of the Base Profit of the Parent Company for the Purposes of Dividends

This excerpt taken from the PBR 6-K filed Mar 21, 2006.

7. Statement of the Base Profit of the Parent Company for the Purposes of Dividends

    R$ Million
    Fiscal Year 
     2005 
   Net Income in the Fiscal Year    23.450 
   Appropriation:     
         Legal Reserve    (1.173)
   
    22.277 
   (+) Reversal of Reserves/Adjustments:     
               Re-evaluation Reserve    9 
   
   (=) Basic Profit for Dividend Purposes    22.286 
   
 
Proposed dividend, equivalent to 31.78% of basic profit - R$1,60 per share     
(29.88% in 2004, R$ 1.15 per share), comprised of:     
     Interest on Own Capital    5.483 
     Dividend    1.535 
   
Total Dividends Proposed    7.018 
   

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The dividends proposed for the year 2005, in the amount of R$ 7,018 million (R$ 1.60 per share), are composed of the following:

    Value per Share
 ON and PN 		   Value 
R$ Million 
DIVIDENDS TO BE DELIBERATED AT THE GENERAL ORDINARY MEETING     
 
 
Interest on Own Capital - Approved by the Board of Directors on 06.17.2005 - Paid on         
01.05.2006, on the shareholder position of 06.30.2005    0,50                   2.193 
 
Interest on Own Capital - Approved by the Board of Directors 12.16.2005, to be held up         
to 03.31.2006, on the shareholder position of 12.31.2005    0,50                   2.193 
 
Interest on Own Capital - Proposed by the Board of Directors 02.17.2006 -The payment         
date will be established at the General Ordinary Meeting to be held on 04.03.2006, on the         
shareholder position of the same date    0,25                   1.097 
 
Dividends - Proposed by the Board of Directors on 02.17.2005 - The payment date will         
be determined at the General Ordinary Meeting to be held 04.03.2006, on the         
shareholder position of the same date    0,35                   1.535 
     
 
TOTAL DIVIDENDS    1,60                   7.018 
     

Dividends and interest on shareholders’ capital to be made available will have their monetary value adjusted for inflation, beginning on 12.31.2005 and up to the date when distribution begins, according to the variation of the rate of the Special System for Settlement and Custody (SELIC).

The management of PETROBRAS is proposing to the Extraordinary Shareholders’ Meeting the increase of the capital stock of the Company from R$ 32.896 million to R$ 48.248 million without the issue of new shares .This will be done by means of capitalization of part of the excess of profit reserve, in the amount of R$ 15.012 million, being R$ 844 million from the statutory reserves and R$ 14.169 million from the retained earning reserves. Other R$ 339 million will be capitalized from the balance of the monetary correction on paid in capital reserve.

33

This excerpt taken from the PBR 6-K filed Feb 21, 2006.

7. Statement of the Base Profit of the Parent Company for the Purposes of Dividends

    R$ Million
    Fiscal Year 
     2005 
   Net Income in the Fiscal Year    23.450 
   Appropriation:     
         Legal Reserve    (1.173)
   
    22.277 
   (+) Reversal of Reserves/Adjustments:     
               Re-evaluation Reserve    9 
   
   (=) Basic Profit for Dividend Purposes    22.286 
   
 
Proposed dividend, equivalent to 31.78% of basic profit - R$1,60 per share     
(29.88% in 2004, R$ 1.15 per share), comprised of:     
     Interest on Own Capital    5.483 
     Dividend    1.535 
   
Total Dividends Proposed    7.018 
   

32

The dividends proposed for the year 2005, in the amount of R$ 7,018 million (R$ 1.60 per share), are composed of the following:

    Value per Share
 ON and PN 		   Value 
R$ Million 
DIVIDENDS TO BE DELIBERATED AT THE GENERAL ORDINARY MEETING     
 
 
Interest on Own Capital - Approved by the Board of Directors on 06.17.2005 - Paid on         
01.05.2006, on the shareholder position of 06.30.2005    0,50                   2.193 
 
Interest on Own Capital - Approved by the Board of Directors 12.16.2005, to be held up         
to 03.31.2006, on the shareholder position of 12.31.2005    0,50                   2.193 
 
Interest on Own Capital - Proposed by the Board of Directors 02.17.2006 -The payment         
date will be established at the General Ordinary Meeting to be held on 04.03.2006, on the         
shareholder position of the same date    0,25                   1.097 
 
Dividends - Proposed by the Board of Directors on 02.17.2005 - The payment date will         
be determined at the General Ordinary Meeting to be held 04.03.2006, on the         
shareholder position of the same date    0,35                   1.535 
     
 
TOTAL DIVIDENDS    1,60                   7.018 
     

Dividends and interest on shareholders’ capital to be made available will have their monetary value adjusted for inflation, beginning on 12.31.2005 and up to the date when distribution begins, according to the variation of the rate of the Special System for Settlement and Custody (SELIC).

The management of PETROBRAS is proposing to the Extraordinary Shareholders’ Meeting the increase of the capital stock of the Company from R$ 32.896 million to R$ 48.248 million without the issue of new shares .This will be done by means of capitalization of part of the excess of profit reserve, in the amount of R$ 15.012 million, being R$ 844 million from the statutory reserves and R$ 14.169 million from the retained earning reserves. Other R$ 339 million will be capitalized from the balance of the monetary correction on paid in capital reserve.

33

EXCERPTS ON THIS PAGE:

6-K
Mar 21, 2006
6-K
Feb 21, 2006

RELATED TOPICS for PBR:

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