| Last year, then-President Jair Bolsonaro needed more funds for the Treasury, so he ordered Petrobras to pay more dividends, which it did. Now President Lula is demanding the opposite - that the company spend more on capital expenditures, lowering prices and reducing the dividend. Wall Street predicts dividends paid will drop by about two-thirds, which is still enough for a double-digit yield. But when your largest shareholder is the federal government and the president says, "Jump," your CEO says, "How high?" Or in this case, when the president says, "Cut," the correct answer is, "How low?" Petrobras will still generate plenty of cash flow and pay shareholders a healthy dividend, but it will be nowhere close to the artificially inflated dividend of the past year. Petrobras' dividend will be lower in 2023. Dividend Safety Rating: F If you have a stock whose dividend safety you'd like me to analyze, leave the ticker in the comments section. Don't forget to check to see whether I've written about your favorite stock recently. Click on the word "Search" on the upper right part of the page, type in the company name and hit enter. Good investing, Marc | 
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