Former Petrobras executive asks Brazil court to block dividend payment

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Petrobras did not immediately respond to a request for comment outside normal business hours.The move represents another question faced by the company over its generous payout policy this year amid rising profits fueled by higher oil prices. On Friday, prosecutors from Brazil’s audit court TCU asked to suspend dividends of around 43.7 billion reais announced by Petrobras last week on the back of a stronger-than-expected third-quarter profit. According to Reuters calculations, the amount represents more than double the average shareholder benefit paid by each of the five biggest Western oil producers.

($1 = 5.0557 reais)