The end of last week was busy at Alphabet (GOGL35). The owner of Google released a better-than-expected first quarter result, reached US$2 trillion in market value and announced the first dividend distribution in its history.
The company has plans to pay dividends regularly. But is it worth investing in the stock thinking only about dividends? And, if you are going to buy the stock, is it better to invest via BDRs or in the stock directly? O InfoMoney sought out analysts who follow the company to answer these questions.
How much will the dividends be?
Alphabet announced that it will pay US$0.20 per share in dividends, in addition to repurchasing another US$70 billion in shares.
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What is the cutoff date to guarantee earnings?
Investors considering buying shares in the company founded by Larry Page and Sergey Brin because of the dividends need to pay attention to the cut-off dates for receiving the proceeds:
- Anyone who has Alphabet shares in an international account will receive dividends on June 17th if they are positioned in the stock on the 10th.
- Anyone who invests via share receipt, on B3, needs to have the paper in their wallet on June 6th to receive payment on June 21st.
Discover the step-by-step guide to living off dividends and having a predictable monthly income, starting in the next few weeks.
Is it worth investing with dividends in mind?
For analysts, it is worth investing in Alphabet, but not thinking about the dividends that the company pays. This is because, as with Nvidia, the earnings are low compared to other stocks. Dividends will be $0.20 per share, but the company earned $1.89 per share in the first quarter.
“[A Alphabet] [e um negócio fabuloso, muito bem posicionado e de baixo custo”, diz Alberto Amparo, Head Ações e Analista CNPI da Suno Research, que pondera: “estão distribuindo pouco lucro”.
Para Thiago Guedes, diretor de desenvolvimento de negócios da Bridgewise no Brasil, a Alphabet não deverá se tornar uma grande pagadora de dividendos. “Deve seguir com a política de dividendos baixos, mas fazendo aquisições para crescer”, diz.
A dona do YouTube, do Google e do Gmail concentra a remuneração aos acionistas em recompras de ações, como a de US$ 70 bilhões que anunciou na última semana. A estratégia agrada investidores, que pagam menos impostos nessa modalidade na comparação com dividendos.
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For the company, however, distributing dividends may be more interesting depending on the market moment. Now that Alphabet has surpassed US$2 trillion in market value, repurchasing shares can be costly, which encourages the company to change its strategy and mix dividends in its shareholder remuneration strategy.
For Matheus Popst, partner at Arbor Capital, it is unlikely that Google will use dividends as its main source of remuneration: “they should continue to dedicate the overwhelming majority of capital returns to share repurchases”.
BDRs or shares abroad?
For experts, the difference is small and will depend on the situation of each investor. “In the end, the return is very similar,” says Amparo.
He explains that while BDRs have a 3% rate on dividends charged by B3, the return that the share purchased directly in the United States will give will depend on the spread that the investor paid when converting his reais into dollars. “The difference is small, it depends on the ease that the investor has” to invest in BDRs or shares in the USA, according to Popst.
It is important to remember that several Brazilian brokers currently offer international accounts to invest in shares directly in the USA. The cost of investments abroad will depend on the spread charged for each one and the other fees involved in the negotiation.
