a JPMorgan estimated that Petrobras (PETR4) ought to announce 4.1 billion US {dollars} in earnings Referring to the primary quarter of 2023 (1Q23). The announcement follows the discharge of the state-owned firm’s stability sheet for the primary three months of the 12 months, which takes place on Thursday (11), after the market is closed.
The quantity of revenue estimated by the financial institution is the same as the revenue (fruit) 6%, in line with analysts.
They consider Petrobras’ present dividend coverage will likely be maintained by new administration this quarter.
“The dividend has been one of the necessary elements for buyers in relation to Petrobras,” says the financial institution group.
Nonetheless, for the remainder of the 12 months, JPMorgan will assume a “extra conservative” coverage. Analysts count on the oil firm to distribute solely the minimal required by legislation, with distribute earnings 25%.
Within the case of Petrobras, the change will lead to a complete distribution of US$8.5 billion in dividends in 2023 – with fruit from 12.5%.
Why the change in Petrobras earnings?
Because the election of the president Luiz Inacio Lula da Silva (PT), Petrobras’ dividend coverage has been the goal of criticism.
The federal government says the corporate ought to prioritize a capital allocation technique that focuses on new initiatives and investments, significantly increasing refining capability and renewables, somewhat than returning extra money to shareholders.
Market analysts consider {that a} potential rule change has turn out to be a part of the agenda for the state-owned firm. This occurred after the election of a brand new board of administrators and the substitute of members of the chief committee of the state-owned firm.
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