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Don't Race Out To Buy China Everbright Limited (HKG:165) Just Because It's Going Ex-Dividend
Don't Race Out To Buy China Everbright Limited (HKG:165) Just Because It's Going Ex-Dividend
China Everbright Limited (HKG:165) 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 of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. This means that investors who purchase China Everbright's shares on or after the 16th of September will not receive the dividend, which will be paid on the 7th of October.
The company's next dividend payment will be HK$0.15 per share. Last year, in total, the company distributed HK$0.45 to shareholders. Looking at the last 12 months of distributions, China Everbright has a trailing yield of approximately 7.7% on its current stock price of HK$5.82. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to investigate whether China Everbright can afford its dividend, and if the dividend could grow.
See our latest analysis for China Everbright
Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. China Everbright lost money last year, so the fact that it's paying a dividend is certainly disconcerting. There might be a good reason for this, but we'd want to look into it further before getting comfortable.
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.
SEHK:165 Historic Dividend September 12th 2022Have Earnings And Dividends Been Growing?
When earnings decline, dividend companies become much harder to analyse and own safely. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. China Everbright reported a loss last year, and the general trend suggests its earnings have also been declining in recent years, making us wonder if the dividend is at risk.
We'd also point out that China Everbright issued a meaningful number of new shares in the past year. Trying to grow the dividend while issuing large amounts of new shares reminds us of the ancient Greek tale of Sisyphus - perpetually pushing a boulder uphill.
Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. China Everbright's dividend payments are effectively flat on where they were 10 years ago. When earnings are declining yet the dividends are flat, typically the company is either paying out a higher portion of its earnings, or paying out of cash or debt on the balance sheet, neither of which is ideal.
Remember, you can always get a snapshot of China Everbright's financial health, by checking our visualisation of its financial health, here.
The Bottom Line
Is China Everbright worth buying for its dividend? First, it's not great to see the company paying a dividend despite being loss-making over the last year. Worse, the general trend in its earnings looks negative in recent years. China Everbright doesn't appear to have a lot going for it, and we're not inclined to take a risk on owning it for the dividend.
With that in mind though, if the poor dividend characteristics of China Everbright 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 China Everbright (2 are a bit unpleasant!) that deserve your attention before investing in the shares.
A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
中国光大股份有限公司(HKG:165)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。除息日期是重要的,因为每当买卖一只股票时,交易至少需要两个工作日才能结算。这意味着,在9月16日或之后购买中国光大股票的投资者将不会收到股息,股息将于10月7日支付。
该公司下一次派息将为每股0.15港元。去年,该公司总共向股东派发了0.45港元。看看过去12个月的分配情况,中国光大目前的股价为5.82港元,往绩收益率约为7.7%。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。因此,我们需要调查中国光大是否有能力支付其股息,以及股息是否会增长。
查看我们对中国光大的最新分析
股息通常从公司利润中支付,因此,如果一家公司支付的股息超过了它的收入,那么它的股息通常被削减的风险更大。中国光大去年亏损,因此它派发股息的事实肯定令人不安。这可能有一个很好的理由,但我们想要在感到舒服之前进一步研究它。
点击此处查看该公司的派息率,以及分析师对其未来股息的估计。
联交所:165历史性红利2022年9月12日盈利和股息一直在增长吗?
当收益下降时,股利公司就更难分析和安全持有了。如果收益下降,该公司被迫削减股息,投资者可能会眼睁睁地看着他们的投资价值化为乌有。中国光大去年报告亏损,总体趋势表明,其收益近年来也在下降,这让我们怀疑股息是否存在风险。
我们还会指出,中国光大在过去一年发行了数量可观的新股。试图在增加股息的同时发行大量新股,这让我们想起了古希腊西西弗斯的故事--不断地把巨石推上山。
许多投资者将通过评估一家公司的股息支付随着时间的推移发生了多大变化来评估公司的股息表现。中国光大的股息支付实际上与10年前持平。当盈利下降但股息持平时,通常情况下,公司要么支付更高比例的收益,要么支付资产负债表上的现金或债务,这两种情况都不理想。
请记住,您随时可以通过查看我们对光大财务健康状况的可视化查看来了解中国光大的财务健康状况。
底线
光大银行值得收购以换取其股息吗?首先,看到该公司在过去一年亏损的情况下仍支付股息并不是一件好事。更糟糕的是,近年来其收益的总体趋势看起来是负面的。中国光大似乎没有太大的机会,我们不愿为了分红而冒险持有光大。
不过,考虑到这一点,如果中国光大的糟糕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,我们发现中国光大的三个警示信号(有两个有点令人不快!)在投资股票之前,这些问题值得你关注。
一个常见的投资错误是购买你看到的第一只有趣的股票。在这里你可以找到高收益股息股的完整名单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
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。
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Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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