Brazil-JBS-SA Performing in an excellent fashion.

BRAZIL-JBS SWIFT.

In an effort to lure investors this year, Latin

America’s largest beef exporter JBS SA (JBSS3.BR) said its board of directors

voted to double 2008 dividend payments.

The final decision is subject to General Assembly approval, scheduled for

March 30.

If approved, JBS’ board said it will increase 2008 dividend distributions to

102.3 million Brazilian reals ($43.5 million) compared to an initially planned

distribution of BRL51.1 million.

JBS cited better than expected year-ending results. JBS said it had adjusted

pro-forma net profits of BRL1.05 billion in 2008.

JBS is Brazil’s biggest beef exporter, with operations in the U.S., Argentina

and Australia.

The company has been putting its best foot forward over the last several

weeks, even announcing the hiring of as many as 5,000 workers to compensate for

the bankruptcy filing of rival Independencia Alimentos Ltda., a privately held

beef exporter.

Monday, JBS’s other rival, Minerva (BEEF3.BR), was put on CreditWatch

negative by Standard & Poor’s Ratings Services. The credit watchdogs said

Minerva faces short term financing difficulties.

JBS’s shares on the Bovespa stock exchange were outperforming the market

during intraday trade Tuesday, rising 8.2% to BRL4.44 per share with large

international banks like Goldman Sachs buying.