Brazil’s PetroReconcavo posts $22M profit, announces JCP payout

PetroReconcavo (RECV3) announced on Thursday that its board of directors approved the distribution of interest on equity (JCP) in the gross amount of R$100 million. This corresponds to a gross value of R$0.341252 per common share.

Shareholders registered in the company’s records by May 18, 2026 will be entitled to receive the payment. Shares will be traded “ex-dividend” starting May 19, 2026. The payment is scheduled for May 28, 2026.

The oil company also reported its financial results for the first quarter of 2026. Net income was R$123.7 million, a drop of 46% compared to the same period in 2025. EBITDA fell 27% year over year, totaling R$310.2 million. Net revenue declined 20% from the previous year, reaching R$684.4 million.

The company operates in the onshore oil and gas sector in Brazil. It focuses on mature fields in the Northeast region. The decline in quarterly results reflects lower production and weaker oil prices during the period. PetroReconcavo has been working to reduce costs and improve operational efficiency to offset market challenges.