BNDES to Pay R$15 Billion in Dividends to Federal Government

The bank's profit is expected to reach R$20 billion this year.

RIO DE JANEIRO, BRAZIL - The National Bank for Economic and Social Development (BNDES) is expected to strengthen the federal government's cash flow with approximately R$14 (US$3.5) to R$15 billion in dividends.

If carried out , this amount will be a record. Until November 2019, the state bank "fattened" the government's coffers by R$9.5 billion - the rule approved by the board of directors determines the transfer of 60 percent of the bank's profits.

Depending on the results of sales of shares that the bank holds in companies, including Petrobras and JBS, the dividends . . .

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