Petrobras ADR rises 3% in the U.S. thanks to massive profits and colossal dividend

The state-owned company pays out R$48.5 billion (US$9.6 billion) in compensation to shareholders, while 50% of Brazilian households have slipped into poverty, and public buses in Brazilian cities are warning of service interruptions because they can no longer afford the price of diesel.

RIO DE JANEIRO, BRAZIL - Petrobras ADRs are up about 3% in pre-market trading in the US this morning.

If confirmed, the B3 valuation could push Ibovespa higher in today's session, as the company has the second-largest stake in the index after Vale.

The high level of the securities reflects investors' reaction to the figures released last night by the state-owned company.

Petrobras recorded a profit of R$44.5 billion (US$8.5 billion) in the first quarter of 2022. This figure was 3,718% higher than in the same period in 2021 and 41% more . . .

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