Petrobras Price Cuts: State-Owned Company to Reduce Asphalt Selling Price to Distributors by Up to 6.4%

Written by Roberta Souza

Published on 31/08/2022 at 12:17

Foto: reprodução agenciabrasil.ebc.com.br

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With This, It Will Be the Second Consecutive Reduction Made by Petrobras in Asphalt Sales Prices for Distributors in 2022

On the upcoming September 1st, Petrobras will adjust asphalt prices, with a reduction of 6.4% in sales values for distributors of the product. This is the second consecutive reduction made by Petrobras in asphalt prices for distributors, which had already seen a drop of 4.5% earlier in August.

It is also worth noting that the Brazilian asphalt market is open to free competition and there are no legal, regulatory, or logistical restrictions for other distributors to act as producers or importers of asphalt. Thus, Petrobras’ pricing method always seeks balance with the market and follows the variations in product value and exchange rates, both up and down, but without passing on the daily volatility of international quotes and exchange rates.

To stay updated on the prices of asphalt and other Petrobras products, as well as Petrobras’ selling prices for distributors, just visit the state-owned company’s website: precos.petrobras.com.br. According to a regulation from ANP, the new asphalt prices for distributors will be available on this site starting September 1st, the effective date.

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Petrobras Achieved the Title of World’s Largest Dividend-Paying Company

In addition to reducing asphalt prices for distributors, Petrobras (PETR3;PETR4) earned the title of the world’s largest dividend-paying company in the second quarter of this year, surpassing companies like Nestlé, Rio Tinto, China Mobile, Ecopetrol, and Microsoft. In the same period of 2021, the Brazilian state-owned company had distributed US$ 1 billion to its shareholders.

Information about Petrobras’ dividends comes from the 35th edition of the Global Dividend Index published by Janus Henderson, first reported by the InfoMoney website. The database analyzes the world’s 1,200 largest companies by market capitalization, representing 90% of dividends paid worldwide. The British manager has approximately US$ 300 billion in assets under management.

Petrobras is the only Brazilian company to appear on the list of the top 10 dividend-paying companies. The mining company Vale (VALE3), which was in ninth place last quarter, lost its position at the top of the ranking.

This is the first time Petrobras has featured among the highlights, and according to Janus Henderson, the company will certainly be included in the list of the largest payers in the world in 2022, to be released in early 2023.

According to the research, global dividends reached a record in the second quarter of 2022, totaling US$ 544.8 billion. In nominal terms, the increase was 11.3%. In underlying terms (adjusted for currency effects and non-recurring dividends), the increase was 19.1%.

Janus Henderson also highlighted that 94% of the companies considered in the index raised or maintained their dividends during the period. Additionally, global dividends managed to surpass pre-COVID-19 pandemic levels and are now only 2.3% below the long-term trend.

Petrobras and other Brazilian companies helped drive the new record in global dividend payments, the manager points out. Brazilian dividends totaled US$ 10.4 billion in the second quarter of 2022, the highest value in the series that began in 2009, compared to US$ 4.2 billion recorded in the second quarter of last year.

In addition to Petrobras, companies like JBS (which distributed US$ 465 million in the second quarter, according to Janus Henderson) and Bradesco (with payments of US$ 219 million) also appear in the Global Dividend Index.

Petrobras Price Cuts: State-Owned Company to Reduce Asphalt Selling Price to Distributors by Up to 6.4%

With This, It Will Be the Second Consecutive Reduction Made by Petrobras in Asphalt Sales Prices for Distributors in 2022

Petrobras Achieved the Title of World’s Largest Dividend-Paying Company

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Petrobras Price Cuts: State-Owned Company to Reduce Asphalt Selling Price to Distributors by Up to 6.4%

With This, It Will Be the Second Consecutive Reduction Made by Petrobras in Asphalt Sales Prices for Distributors in 2022

Petrobras Achieved the Title of World’s Largest Dividend-Paying Company

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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.

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