Petrobras to Pay $2.1 Billion in Dividends After Price Drop

Brazil’s state-controlled oil producer Petrobras approved dividends slightly below expectations amid a trade war that has created economic uncertainty and undermined oil prices.

Petroleo Brasileiro SA, as the company is formally known, will pay 11.72 billion reais ($2.1 billion) in first-quarter dividends, it said in a filing Monday. Expectations were for a $2.2 billion payout, according to an average of six analyst forecasts reviewed by Bloomberg.