Readers hoping to buy Associated International Hotels Limited (HKG:105) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order 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. Therefore, if you purchase Associated International Hotels' shares on or after the 12th of December, you won't be eligible to receive the dividend, when it is paid on the 5th of January.
The company's next dividend payment will be HK$0.11 per share, and in the last 12 months, the company paid a total of HK$0.32 per share. Last year's total dividend payments show that Associated International Hotels has a trailing yield of 3.5% on the current share price of HK$9.15. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. As a result, readers should always check whether Associated International Hotels has been able to grow its dividends, or if the dividend might be cut.
Check out our latest analysis for Associated International Hotels
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. Associated International Hotels's dividend is not well covered by earnings, as the company lost money last year. This is not a sustainable state of affairs, so it would be worth investigating if earnings are expected to recover. With the recent loss, it's important to check if the business generated enough cash to pay its dividend. If Associated International Hotels didn't generate enough cash to pay the dividend, then it must have either paid from cash in the bank or by borrowing money, neither of which is sustainable in the long term. Over the last year it paid out 73% of its free cash flow as dividends, within the usual range for most companies.
Click here to see how much of its profit Associated International Hotels paid out over the last 12 months.
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SEHK:105 Historic Dividend December 7th 2022
Have Earnings And Dividends Been Growing?
Companies with falling earnings are riskier for dividend shareholders. If earnings fall far enough, the company could be forced to cut its dividend. Associated International Hotels 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.
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. Associated International Hotels has seen its dividend decline 9.1% per annum on average over the past 10 years, which is not great to see. It's never nice to see earnings and dividends falling, but at least management has cut the dividend rather than potentially risk the company's health in an attempt to maintain it.
Remember, you can always get a snapshot of Associated International Hotels's financial health, by checking our visualisation of its financial health, here.
The Bottom Line
From a dividend perspective, should investors buy or avoid Associated International Hotels? It's hard to get used to Associated International Hotels 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 an attractive combination from a dividend perspective, and we're inclined to pass on this one for the time being.
Having said that, if you're looking at this stock without much concern for the dividend, you should still be familiar of the risks involved with Associated International Hotels. To that end, you should learn about the 2 warning signs we've spotted with Associated International Hotels (including 1 which is a bit concerning).
Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers.
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.
希望购买的读者联营国际酒店有限公司(HKG:105),由于该股即将进行除股息交易,其股息将需要很快采取行动。除息日期发生在记录日期的前一天,也就是股东需要登记在公司账面上才能获得股息的日期。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。因此,如果您在12月12日或之后购买联合国际酒店的股票,当1月5日支付股息时,您将没有资格获得股息。
该公司下一次派发股息为每股0.11港元,过去12个月,公司共派发每股0.32港元。去年的派息总额显示,以目前9.15港元的股价计算,联合国际酒店集团的往绩收益率为3.5%。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,读者应该始终查看联合国际酒店是否能够增加股息,或者股息是否可能被削减。
查看我们对联合国际酒店的最新分析
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。联合国际酒店集团的股息没有很好地计入收益,因为该公司去年出现了亏损。这是一种不可持续的状态,因此如果盈利有望复苏,将值得调查。考虑到最近的亏损,重要的是检查企业是否产生了足够的现金来支付股息。如果联合国际酒店没有产生足够的现金来支付股息,那么它肯定要么是用银行的现金支付的,要么是通过借钱支付的,从长远来看,这两种方式都是不可持续的。去年,它支付了73%的自由现金流作为股息,这在大多数公司的通常范围内。
单击此处查看联合国际酒店在过去12个月中支付了多少利润。
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联交所:105历史性红利2022年12月7日
盈利和股息一直在增长吗?
盈利下降的公司对股息股东来说风险更大。如果收益降幅足够大,该公司可能会被迫削减股息。联合国际酒店去年报告亏损,大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。
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。在过去的10年里,联合国际酒店的股息平均每年下降9.1%,这并不是很好的情况。看到收益和股息下降从来都不是好事,但至少管理层削减了股息,而不是为了维持股息而潜在地冒着公司健康的风险。
请记住,您随时可以通过查看我们对联合国际酒店财务状况的可视化了解其财务状况的快照,点击此处。
底线
从分红的角度来看,投资者应该买入还是避开联合国际酒店?人们很难习惯联合国际酒店在过去一年报告亏损的情况下仍支付股息。然而,至少股息是由自由现金流支付的。从分红的角度来看,这并不是一个有吸引力的组合,我们暂时倾向于不考虑这一点。
话虽如此,如果你在看这只股票时并不太关心股息,你应该仍然熟悉联合国际酒店所涉及的风险。为此,您应该了解2个警告标志我们已经发现了联合国际酒店(包括1家有点令人担忧)。
一般来说,我们不会建议只购买你看到的第一批股息股票。这是这是一份精心挑选的股息支付强劲的有趣股票的名单。
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。