5 stocks that pay good dividends to invest in June: BB and TIM debut on the list, Itaúsa and Vibra leave

The list of dividend stocks most recommended by experts this month brings a new sectorial diversification.

The top of the podium remains with mining company Vale (VALE3), with eight nominations, but the runner-up is now divided between the roles of electric Engie (EGIE3) and those of Banco do Brasil (BBAS3), both with six nominations.

The state bank accounted for no less than three debuts in the portfolios selected by the InfoMoney for June – and in two of them, it took the place of Itaúsa (ITSA4) – which had been one of the highlights in the May portfolios, but ended up no longer appearing among the most recommended for June.

Another novelty is the telephone company TIM (TIMS3), held in the portfolios of three brokerages and included in a fourth, which was enough to equal the four citations received by Petrobras (PETR4) and close the list of preferences for the period .

Present last month, the fuel distributor Vibra Energia (VBBR3) was replaced in some portfolios and, thus, ended up being overtaken by other companies in the balance sheet of the most remembered by brokerages.

Every beginning of the month, the InfoMoney brings a survey of stock portfolios recommended for those who focus on dividends, pointing out the five most cited shares by analysts. The number of nominations may be higher if there is a tie.

The analysis encompasses the dividend portfolios prepared by ten brokerages. Here are the preferred roles for June:

Company ticker number of recommendations Dividend yield in 12 months (%) Return in May (%) Return in 2022 (%) Return in 12 months (%)
OK VALE3 8 16.35 3.51 14.83 -12.21
Bank of Brazil BAAS3 6 8.13 12.19 33.08 19.54
Engie EGIE3 6 5.69 6.49 18.42 17.51
Petrobras PETR4 4 38.32 10.63 28.7 62.19
TIM TIMS3 4 3.57 6.82 10.14 23.18

Sources: Ágora, Ativa, BB Investimentos, BTG Pactual, Elite, Genial, Guide, Órama, Santander Corretora, XP Investimentos and Economatica.

Present in eight of the ten dividend portfolios recommended for June, Vale maintained the isolated leadership obtained last month, and even increased its advantage in relation to other shares.

In a report, BTG Pactual assesses that the company’s management remains “highly disciplined” in the allocation of capital, signaling that most of the agenda should focus on cash returns to shareholders.

With this, the institution designs a dividend yield (income via dividends) of 15% this year, a calculation that already includes the recent announcement of an approximately $8 billion share buyback program.

In the opinion of the house, the mining company will be a great beneficiary of the reopening and reacceleration of the Chinese economy this month and next, after the circulation restrictions that occurred in the Asian country in recent weeks, to combat Covid-19.

“Ultimately, we are seeing a turning point in China (although there are risks in a few months’ time), and we expect the supply and demand balance to tighten going forward,” the institution’s report says.

In the short term, says the bank, iron ore prices should continue to be supported by the Chinese recovery and the resumption of steel production. “We also expect problems in iron ore production [da Vale] in Carajás dissipate, helping to increase production and dilute fixed costs”.

Santander Corretora is also working with a scenario of improvement in Chinese demand and weak growth in the supply of ore in the coming years. The home estimate for the average price of commodity this year it remained at US$ 120 a ton, but there was a recent revision in the projections for Vale.

The forecast for the company’s Ebitda this year increased by 3%, reaching US$ 30 billion, but the target price of the papers was maintained (at R$ 125), as well as the purchase indication.

Bank of Brazil (BBAS3)

The institution is among the novelties in the recommended dividend portfolios for the month. BB’s shares debuted in the portfolios of three brokerage firms and remained on the list of other three analysis houses, totaling six nominations.

With the result, the bank occupies the vice-leadership in this month’s follow-up, tied with Engie.

Santander claims that Banco do Brasil’s shares are now its “top pick” in the sector. “In addition to having one of the biggest dividend yields expected for 2022 (9.8%) among our coverage, BB should maintain the good momentum of profits throughout 2022”, says the brokerage report.

The institution notes that BB’s adjusted net income in the first quarter (R$ 6.6 billion, up 35% on an annual basis) was 20% above the house’s estimate, due to the healthy progress of credit and controlled quality assets, which led to lower provisions.

“If this performance continues throughout 2022, we believe that the bank will be able to achieve results closer to the upper limit of its guidance [projeção, de R$ 26 bilhões]”, says Santander, which now estimates an adjusted net income above this level, reaching R$ 26.3 billion this year.

At Guide, the expectation is that BB will maintain its profitability margins stable, with a default rate below average and marginal expansion of the loan portfolio. “In addition, we expect the bank to continue expanding other sources of revenue, such as pension plans and consortium”.

The company, the largest private producer of electricity in the country, also received six entries in the dividend portfolios in June, maintaining the position obtained last month.

According to Elite Investimentos, the company manages to combine long-term growth potential with a capacity for good earnings payments – which have been equivalent to, at least. 55% of the adjusted net income, above the forecast in its remuneration policy (30%), highlights the brokerage.

In addition to operating in the generation, commercialization and transmission of energy, Engie also transports gas and offers energy solutions.

Last month, recalls Elite, the company announced an agreement with the Copel group to form a company (in which it would have 51%) with a view to “potential participation” in the next government transmission auction, scheduled for June 30. The bidding involves 5,291 kilometers of transmission lines and 6,260 MVA in transformation capacity, with investments estimated at R$ 15.3 billion.

Another broker that has Engie in its dividend portfolio is BB Investimentos, which included the company in the review valid for the period from June to August. The report points out that the expected dividend return for the electric company is 8.2%, considering the share price at the end of May.

The company is present in four dividend portfolios indicated for June. TIM was kept in the selection of three analysis houses and debuted in the XP portfolio. The broker explains that the company was added after disclosing the payment of R$ 2 billion in earnings in 2022, implying a return via dividends of approximately 6%.

“We believe that the mobile telephony sector in Brazil is close to entering a new phase, which will be marked by greater capital discipline in infrastructure investments, in addition to other efficiency fronts arising from market consolidation with the acquisition of Oi Móvel by the three operators [TIM, Vivo e Claro]”, says XP.

The investment thesis in TIM, according to the monthly report, also includes the perception of solid execution in a mature but resilient business, leading the company to increase cash generation over the years. Another bet is on new revenue lines in addition to connectivity, leveraging the company’s customer base, in addition to opportunities arising from 5G technology.

In addition, XP understands that TIM’s shares have been traded at a discount, presenting an attractive risk-return ratio.

Petrobras (PETR4)

Even with the resignation of CEO José Mauro Coelho and constant risks of political interference in the course of business, Petrobras remains a highlight in dividends, maintaining the four recommendations received last month.

In a report, Ativa says that the exposure to the oil exploration sector is justified, among others, by the following factors: price of the product, expectation that the state-owned company will maintain an attractive cost of extraction and, of course, by the very horizon of remuneration to the shareholders.

For this year, the brokerage estimates a payment of earnings of around R$ 106.7 billion by Petrobras, equivalent to R$ 8.18 per share – which would mean a distribution of 80% of the profit and a return with dividends. of 24.4%, considering the recent prices of preferred paper.

The recommendation is to buy, but Ativa dedicates an item in the report to the political risk embedded in Petrobras. For the institution, ideas that question the use of market mechanisms for setting prices, such as the adoption of damming the values ​​of derivatives in refineries, may call into question the current level of distribution of earnings by the company – as they would affect the profit margins and financial comfort seen today.