Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
October 28 2020 - 7:27AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities
Exchange Act of 1934
For
the month of October, 2020
Commission
File Number 1-15106
PETRÓLEO
BRASILEIRO S.A. – PETROBRAS
(Exact
name of registrant as specified in its charter)
Brazilian
Petroleum Corporation – PETROBRAS
(Translation
of Registrant's name into English)
Avenida
República do Chile, 65
20031-912 – Rio de Janeiro, RJ
Federative Republic of Brazil
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form
20-F ___X___ Form 40-F _______
Indicate
by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
_______ No___X____
Petrobras on revision of
the Shareholders Compensation Policy
—
Rio de Janeiro, October 28,
2020 - Petróleo Brasileiro S.A. - Petrobras informs that its Board of Directors, in a meeting held yesterday, approved the
revision of the Shareholders Compensation Policy in order to enable the Management to propose the payment of dividends compatible
with the company's cash generation, even in years with accounting losses.
With the changes approved, in
the scenario which the company's gross debt is above US$ 60 billion, the proposal for the distribution of dividends could be presented,
with accounting losses, when there is a reduction in net debt in the last twelve-month period, if the Management believes that
the company's financial sustainability will be preserved. The distribution proposal should be limited to the value of the net debt
reduction.
The company may also, in exceptional
cases, propose the payment of extraordinary dividends, exceeding the minimum legal mandatory dividend or the annual amount calculated
from the formula (Remuneration = 60% x (Operating Cash Flow - CAPEX), when its gross debt is less than US$ 60 billion, even with
accounting losses.
In all cases, the dividends
distribution must comply with the provisions of the applicable legislation, including article 201 of the Corporation Law (Law No.
6404/76).
The policy review is available
on the Investor Relations website (www.petrobras.com.br/ir) or the CVM website (www.cvm.gov.br).
www.petrobras.com.br/ir
For more information:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS
| Investor Relations
email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br
Av. República do Chile, 65 – 1803
– 20031-912 – Rio de Janeiro, RJ.
Phone: 55 (21) 3224-1510/9947 | 0800-282-1540
This document may contain
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section
21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Company’s
management. Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”,
“plan”, “project”, “seek”, “should”, along with similar or analogous expressions,
are used to identify such forward-looking statements. These predictions evidently involve risks and uncertainties, whether foreseen
or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not
base their expectations exclusively on the information presented herein.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Date: October 28, 2020
PETRÓLEO BRASILEIRO
S.A–PETROBRAS
By: /s/ Andrea Marques de Almeida
______________________________
Andrea
Marques de Almeida
Chief Financial Officer and
Investor Relations Officer
Petroleo Brasileiro ADR (NYSE:PBR)
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