Stocks in the "Oil, Gas and Fuels" sector had the highest average dividend yield in 2024, at 11.45%, followed by "Utilities" stocks (8.98% average), and "Consumer Discretionary" (7.99% average). The data comes from an unprecedented study based on information from B3, the Brazilian Stock Exchange, and Neoway, a B3 brand.

"The fact that these sectors led in dividend distribution last year highlights a balance between cyclical and non-cyclical companies and shows that investors are looking for both stability and growth opportunities," said Diego Araujo, Head of Capital Markets at Neoway.

The study calculated the return on dividends (known as dividend yield) for all B3 tickers in 2024, comparing the payouts to their respective share prices. By relating dividend payouts to share prices, the dividend yield offers a more accurate view of the returns provided relative to market value. However, it’s important to note that very high yields can result from depressed stock prices or unsustainable dividend policies.

Among the sectors with the highest dividend yields in 2024, the study highlights that the driving forces within Oil and Gas were the exploration, refining, and distribution subsectors. Standout performers include Petrobras (PETR4) with a yield of 21.95% and PetroRecôncavo (RECV3) with 16.97%.

In the Utilities sector, electric power, gas, and sanitation companies drew attention. In the energy subsector, top performers included Elektro (EKTR3) with 25.25% and Rio Paranapanema Energia (GEPA3) with 20.81%. Historically, energy stocks attract investors seeking dividends due to their stable and predictable nature, with recurring revenues and long-term contracts.

In the gas subsector, Comgás (CGAS5) stood out with a dividend yield of 18.53%; in water and sanitation, Copasa (CSMG3) recorded 12.70%.

The Consumer Discretionary sector’s performance was driven by subsectors such as home appliances, footwear, and real estate development, reflecting the diversification potential of this asset class. Leading stocks included Even Construtora (EVEN3) at 21.54% and Vulcabras (VULC3) at 19.48%.

Top-Performing Dividend Stocks

The stock with the highest dividend return relative to its share price was Embpar Participações (EPAR3), with a dividend yield of 72.6%. Second place went to SYN Prop & Tech (SYNE3), with 52%.

Next, almost tied, were Ânima Educação (ANIM3) and Allied Tecnologia (ALLD3), with yields of 29.8% and 29.7%, respectively. Fifth place went to Panatlantica (PATI3), with a 25.2% yield.

When considering the stocks with the highest real returns in 2024—a metric that includes both dividend yield and stock price appreciation—the top performers were: SYN Prop & Tech (SYNE3), 230.4%; Elektro (EKTR4), 87.5%; Panatlantica (PATI4), 75.5%.

Methodology

The study included dividends, interest on equity (JCP), and income as payouts distributed throughout 2024 according to respective payment dates. Depending on the calculation method used, slight variations in distribution percentages may occur.

To calculate annual dividend yield and stock appreciation, the study used the first and last adjusted closing prices (accounting for corporate actions) for each ticker in 2024.

The sector classification of stocks and units follows the segmentation available on the B3 website.

About Neoway – Founded in Florianópolis, Neoway launched its SaaS platform in 2012 and became part of B3, the Brazilian stock exchange, in 2021. The data and analytics brand offers intelligent solutions that transform information into business insights and generate productivity and precision for marketing and sales strategies, compliance, loss prevention, and capital markets. Neoway serves around 20 major sectors, including financial, automotive, consumer goods, collections and recovery, construction, oil and gas, and healthcare. Learn more at: [link].

About B3 – B3 S.A. (B3SA3) is one of the world's leading financial market infrastructure companies and one of the largest in market value, ranking among the global leaders in the exchange sector. It connects, develops, and enables Brazil’s financial and capital markets and, together with clients and society, drives the country's growth. Headquartered in São Paulo, with offices in Chicago, London, Singapore, and Shanghai, B3 plays a key role in promoting best practices in corporate governance, risk management, and sustainability.