Emperor International Holdings Limited (HKG:163) is about to trade ex-dividend in the next 3 days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Accordingly, Emperor International Holdings investors that purchase the stock on or after the 25th of August will not receive the dividend, which will be paid on the 14th of September.
The company's next dividend payment will be HK$0.016 per share, and in the last 12 months, the company paid a total of HK$0.032 per share. Based on the last year's worth of payments, Emperor International Holdings has a trailing yield of 4.4% on the current stock price of HK$0.73. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. We need to see whether the dividend is covered by earnings and if it's growing.
See our latest analysis for Emperor International Holdings
Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. Emperor International Holdings paid a dividend last year despite being unprofitable. This might be a one-off event, but it's not a sustainable state of affairs in the long run. Considering the lack of profitability, we also need to check if the company generated enough cash flow to cover the dividend payment. If cash earnings don't cover the dividend, the company would have to pay dividends out of cash in the bank, or by borrowing money, neither of which is long-term sustainable. It paid out 8.9% of its free cash flow as dividends last year, which is conservatively low.
Click here to see how much of its profit Emperor International Holdings paid out over the last 12 months.
SEHK:163 Historic Dividend August 21st 2022
Have Earnings And Dividends Been Growing?
Businesses with shrinking earnings are tricky from a dividend perspective. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Emperor International Holdings was unprofitable last year and, unfortunately, the general trend suggests its earnings have been in decline over the last five years, making us wonder if the dividend is sustainable at all.
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. Emperor International Holdings's dividend payments per share have declined at 11% per year on average over the past 10 years, which is uninspiring. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders.
Remember, you can always get a snapshot of Emperor International Holdings's financial health, by checking our visualisation of its financial health, here.
The Bottom Line
Should investors buy Emperor International Holdings for the upcoming dividend? It's hard to get used to Emperor International Holdings paying a dividend despite reporting a loss over the past year. At least the dividend was covered by free cash flow, however. It's not that we think Emperor International Holdings is a bad company, but these characteristics don't generally lead to outstanding dividend performance.
With that in mind though, if the poor dividend characteristics of Emperor International Holdings don't faze you, it's worth being mindful of the risks involved with this business. For example, we've found 3 warning signs for Emperor International Holdings (2 can't be ignored!) that deserve your attention before investing in the shares.
If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
帝皇国际控股有限公司(HKG:163)即将在未来3天内进行除股息交易。通常,除息日期是记录日期之前的一个工作日,记录日期是公司确定有资格获得股息的股东的日期。除息日期很重要,因为结算过程需要整整两个工作日。因此,如果你错过了那个日期的预期,你就不会在记录日期出现在公司的账簿上。因此,在8月25日或之后购买该股票的英皇国际控股投资者将不会收到股息,股息将于9月14日支付。
该公司下一次派发股息为每股0.016港元,过去12个月,公司共派发每股0.032港元。根据上一年的支付金额,英皇国际控股的往绩收益率为4.4%,目前的股价为0.73港元。股息是长期持有者投资回报的主要贡献者,但前提是继续支付股息。我们需要看看股息是否由收益覆盖,以及是否在增长。
查看我们对英皇国际控股的最新分析
股息通常从公司收入中支付,因此,如果一家公司支付的股息超过了它的收入,它的股息通常被削减的风险更高。尽管没有盈利,帝王国际控股去年还是派发了股息。这可能是一次性事件,但从长远来看,这不是一种可持续的状态。考虑到缺乏盈利能力,我们还需要检查公司是否产生了足够的现金流来支付股息。如果现金收益不足以支付股息,该公司将不得不用银行现金支付股息,或者通过借款支付股息,这两种方式都不是长期可持续的。它去年支付了自由现金流的8.9%作为股息,这是保守的低水平。
点击这里查看英皇国际控股在过去12个月中支付了多少利润。
联交所:163历史性红利2022年8月21日
盈利和股息一直在增长吗?
从分红的角度来看,收益缩水的企业很棘手。如果业务进入低迷,股息被削减,该公司的价值可能会急剧缩水。帝皇国际控股去年没有盈利,不幸的是,总体趋势表明,该公司的收益在过去五年里一直在下降,这让我们怀疑股息是否可持续。
衡量一家公司股息前景的另一个关键方法是衡量其历史股息增长率。帝皇国际控股的每股股息支出在过去10年里以平均每年11%的速度下降,这并不鼓舞人心。虽然近年来每股收益和股息下降并不是什么好事,但令我们感到鼓舞的是,管理层削减了股息,而不是冒着过度承诺公司的风险,试图保持对股东的收益。
请记住,您随时可以通过查看我们对其财务健康状况的可视化查看,了解英皇国际控股公司的财务健康状况。
底线
投资者应该为即将到来的股息买入英皇国际控股吗?尽管英皇国际控股在过去一年中报告亏损,但人们很难习惯于支付股息。然而,至少股息是由自由现金流支付的。这并不是说我们认为英皇国际控股是一家糟糕的公司,但这些特点通常不会导致出色的股息表现。
考虑到这一点,如果英皇国际控股公司糟糕的股息特征没有让你感到不安,那么有必要注意这项业务所涉及的风险。例如,我们发现英皇国际控股的3个警告标志(2不可忽视!)在投资股票之前,这些问题值得你关注。
如果您正在寻找强大的股息支付者,我们建议查看我们精选的顶级股利股票。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。