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Dividends: Safra indicates a share exposed to Vale (VALE3) for October, but cheaper than the mining company

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Safra explains that the inclusion of Bradespar is due to “the opening of the discount of the holding company in relation to Vale in recent months” (Image: REUTERS/David Gray)

O harvest moved your recommended wallet in dividends by making two changes for October.

the papers of OK (VALE3) left the portfolio, giving space to the holding company that invests in it, Bradespar (BRAP4).

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in the case of electrobras, the name was kept. However, the common share was replaced, ELET3for the preferred role, ELET6.

Safra explains that the inclusion of Bradespar is due, in addition to the good dividends, to the “opening of the discount of the holding company in relation to Vale in recent months, reaching 27%”.

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“However, we continue with the positive thesis for Vale, since the prices of iron ore are recovering with a more positive signal from the Chinese government with regard to stimulus to its economy”, he emphasizes.

Regarding the inclusion of the electric company’s preferred share, the bank says that it sees “a great unlocking of value” with the privatization of the company, “which should favor preferred shares”.

Company ticker Weight Dividend Yield 2022E
Bradespar BRAP4 10% 10%
Harbor PSSA3 10% 5.80%
Itaú Unibanco ITUB4 10% 3.50%
Bradesco BBDC4 10% 5.30%
BB Security BBSE3 10% 8.60%
TIM TIMS3 10% 6.90%
electrobras ELET6 10% 3.50%
Engie Brazil EGIE3 10% 9.40%
energetic ENGI11 10% 3.90%
Alupar ALUP11 10% 6%

Safra’s dividend portfolio has dividend yield (dividend yield) of 6.3%. In September, the portfolio retreated 0.49%, below its benchmarkO Dividend Index (IDIV)which registered an increase of 2.75%.

In the year, the portfolio accumulates an increase of 8.54%, compared to an appreciation of 8.15% in the index.

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Source: Moneytimes

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