Posted 3/8/2024, 3:53:25 PM
Petrobras Dividend Cut Stokes Fears of Greater Brazil Government Intervention
- Brazilian markets slumping after Petrobras pays smaller-than-expected dividend
- Raises fears of increased government intervention in major Brazilian companies
- Petrobras dividend miss adds to worries that leftist government exerting more influence over companies
- Analysts removing buy ratings for Petrobras after CEO signals shift from shareholder returns to renewables
- Dividend announcement setback for investors hoping for limited political involvement in companies like Petrobras and Vale