Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Increases Dividend to $0.06 Per Share

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) announced an annual dividend on Monday, April 29th, Zacks reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.059 per share by the utilities provider on Thursday, May 16th. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a positive change from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04.

Centrais Elétricas Brasileiras S.A. – Eletrobrás has decreased its dividend payment by an average of 47.6% per year over the last three years. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a payout ratio of 7.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Centrais Elétricas Brasileiras S.A. – Eletrobrás to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 20.5%.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 0.3 %

NYSE EBR opened at $7.81 on Tuesday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 12 month low of $6.45 and a 12 month high of $9.11. The stock has a 50-day simple moving average of $8.12 and a 200 day simple moving average of $8.20. The company has a current ratio of 1.76, a quick ratio of 1.75 and a debt-to-equity ratio of 0.44.

Analyst Ratings Changes

Separately, StockNews.com raised Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Company Profile

Centrais Elétricas Brasileiras SA – Eletrobrás, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. It owned and operated 32 hydroelectric plants; As of December 31, 2022, it operated 32 hydroelectric plants; five thermal plants, including coal and gas power generation units with a total installed capacity of 1,482 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.