Comgás Outperforms Petrobras in Per-Share Dividend Payout

In 2024, dividend payments are on track to hit record highs. Through May, shareholders have received a total of R$ 128.83 billion ($24.54 billion).

This marks a significant 31% surge compared to the same period in both 2022 and 2023.

Data from the Meu Dividendo platform reveals that in 2022 and 2023, figures stood at R$ 98.35 billion ($18.73 billion) and R$ 98.42 billion ($18.75 billion), respectively.

Petrobras (PETR4) leads Brazil’s B3 in total dividends with R$36.77 billion ($7.00 billion) but ranks fourth in dividends per share.

The standout in the “dividends per share” category for the first five months of the year was Comgás.

The company paid R$ 12.08 ($2.30) per preferred share (CGAS5) and R$ 10.93 ($2.08) per ordinary share (CGAS3).

This amount was four times the R$ 2.82 ($0.54) per share distributed by Petrobras in the same period.

Following Comgás, Banco do Nordeste (BNBR3) rewarded its investors with R$ 3.16 ($0.60) per share.

Petrobras trails behind these companies in per-share dividends, despite leading in total dividends distributed.

In terms of overall dividends distributed, the three largest contributors of the R$ 128.83 billion ($24.54 billion) total were tagged as the “cash cows” of the B3.

Petrobras led with R$ 36.77 billion ($7.00 billion), followed by Ita (ITUB4) with R$ 22.03 billion ($4.20 billion), and Vale (VALE3), which paid out R$ 12.43 billion ($2.37 billion).

Reviewing the dividends per share, Petrobras paid R$ 2.82 ($0.54), followed by Vale with R$ 2.74 ($0.52) per share, and Ita, which distributed R$ 2.25 ($0.43) per share.

In short, this ranking highlights a disparity in dividend strategies among Brazil’s top firms. Comgás takes the lead in maximizing shareholder returns on a per-share basis.