Dividendos e juros sobre o capital próprio no setor petrolífero brasileiro

Abstract

This study has as objective to investigate if the open capital companies of the national oil sector remunerate their shareholders suitably, when they use the interests on owner’s equity. The focus is to verify if such companies are imputing its dividends suitably, in other words, if the imputation is being done only to the compulsory dividends. There were selected three open capital companies, of the national oil sector, of CVM’s database, that, in the period from 2001 to 2003, remunerated their shareholders through the interests on owner’s equity. The results showed that all researched companies presented some problem, related to the imputation of the interests on owner’s equity to the compulsory dividends, or related to the quality of the information. It demonstrates that the subject of the imputation of the interests on owner’s equity to the dividends still generates trouble and doubts, relating to the suitable treatment that the companies have to do in this issue.