Wall Street closes at a record for the first time since end of January
Investing.com -- Brazilian President Lula is considering tightening existing rate caps on credit cards to reduce household debt-servicing costs ahead of the upcoming election, according to Jefferies. The government introduced the cards cap mechanism in early 2024, though regulatory risk remains unresolved.
The government is also examining ways to lower front-book rates in the newly launched private payroll loan market, Jefferies said. The Central Bank of Brazil has stated that it opposes hard caps.
In corporate news, Grupo Argos approved the distribution of an ordinary dividend of COP 750 per share, applicable to both ordinary and preferred shares, representing a 4.5% yield. The total cash outlay amounts to approximately COP 514 billion and will be paid in four equal quarterly installments of COP 187.5 per share, starting in April 2026.
The company also authorized a new share buyback program of up to COP 500 billion, approximately 5% of market capitalization, to be executed over a period of up to three years.
Cementos Argos, which represents 55% of Grupo Argos net asset value, approved a total dividend of COP 580 per share, a 5% yield, combining an ordinary dividend of COP 430 and an extraordinary dividend of COP 150. The company also expanded its share buyback program for an additional two years, increasing the maximum allocation to COP 450 billion, or 3.5% of market capitalization.
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