Brazilian Oil Giant’s Profits Are Soaring and Petrobras May Pay Up to US$ 12 Billion in Dividends!
According to the financial group’s report, Goldman Sachs, Petrobras is expected to pay US$ 12 billion in dividends along with its earnings release, which will occur on November 3. Goldman Sachs’ expectations are based on studies of the oil company’s third-quarter numbers for 2022.
According to Goldman, this amount implies a dividend return (dividend yield) of 14%, which Petrobras would pay for the rest of 2022, maintaining a cash position of 9%.
For the financial group, the minimum that Petrobras could pay would be US$ 6.7 billion, considering the distribution of 60% of the profit. It is worth noting that the oil company has been paying more than the total implied in the formula.
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Brent Oil Price Fell About 12% but It Won’t Hinder the State-Owned Company from Paying Billion-Dollar Dividends
Despite the drop in Brent oil price, which fell about 12% between July and September, analysts from BTG, a Brazilian investment bank, believe that Petrobras will generate good cash flow and estimates that the state-owned company will announce dividends of US$ 6.5 billion.
“Lower oil prices are expected to affect EBITDA, but investors should still expect a solid display from what has become a cash-generating machine,” analysts said.
According to analysts from Credit Suisse, a Swiss investment bank, they claim that after reading the numbers “marginally negative” for the third quarter, the results should still be “solid.”
“The results are likely not to be as exciting as in the second quarter, when Petrobras paid extraordinary dividends, but we still see a solid free cash flow generation of about US$ 9 billion in the quarter. This should lead to dividends of US$ 6-9 billion in the third quarter, in our opinion”, they said.

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