Rochester, NY 8/8/2009 7:31:14 AM
After Hours - Centrais Electricas Brasileiras S.A., EBR - Eletrobras CEO to Solve its Dividend Problem Within a Year
Centrais Electricas Brasileiras S.A.
Chief executive officer of Centrais Eletricas Brasileiras SA, Jose Muniz announced that he hopes to pay $10 billion of back dividends to Brazil’s government and minority shareholders within a year.
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“It could be within a year,” he said of the dividend payments. “I certainly want to resolve it by the end of my term.” Muniz, who was appointed by the president, is expected to leave Eletrobras when Lula’s term ends on Jan. 1, 2011.
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