Eletrobras back in the game! Stocks rise with 2Q and ‘gift’ of R$ 4 billion dividend

The shares of Eletrobras (ELET3; ELET6) are experiencing a strong session of gains, with a 6.78% increase (R$ 41.72) for ON shares and 6.07% (R$ 44.51) at 10:15 am (Brasília time) on Thursday’s session (7), amid strong results and the announcement of R$ 4 billion in dividends, which surprised the market. XP Investimentos highlighted in a report that the electric company presented a solid set of results, with adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of R$ 5.7 billion, 5% above our estimates and about 10% above the market consensus. ‘Furthermore, it announced a dividend distribution equivalent to a yield of approximately 4.5%, also above our expectations and the consensus,’ evaluated analyst Bruno Vidal from XP.