Despite The Price Of Brent Oil Plummeting, Petrobras May Pay Extraordinary Dividends Of Over R$ 60 Billion Next Week

Written by Flavia Marinho

Published on 30/10/2022 at 13:41

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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.

Despite The Price Of Brent Oil Plummeting, Petrobras May Pay Extraordinary Dividends Of Over R$ 60 Billion Next Week

Brazilian Oil Giant’s Profits Are Soaring and Petrobras May Pay Up to US$ 12 Billion in Dividends!

Brent Oil Price Fell About 12% but It Won’t Hinder the State-Owned Company from Paying Billion-Dollar Dividends

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Despite The Price Of Brent Oil Plummeting, Petrobras May Pay Extraordinary Dividends Of Over R$ 60 Billion Next Week

Brazilian Oil Giant’s Profits Are Soaring and Petrobras May Pay Up to US$ 12 Billion in Dividends!

Brent Oil Price Fell About 12% but It Won’t Hinder the State-Owned Company from Paying Billion-Dollar Dividends

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

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