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It Might Not Be A Great Idea To Buy Liu Chong Hing Investment Limited (HKG:194) For Its Next Dividend
It Might Not Be A Great Idea To Buy Liu Chong Hing Investment Limited (HKG:194) For Its Next Dividend
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Liu Chong Hing Investment Limited (HKG:194) is about to trade ex-dividend in the next 4 days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. 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. This means that investors who purchase Liu Chong Hing Investment's shares on or after the 5th of September will not receive the dividend, which will be paid on the 19th of September.
The company's next dividend payment will be HK$0.18 per share. Last year, in total, the company distributed HK$0.46 to shareholders. Based on the last year's worth of payments, Liu Chong Hing Investment has a trailing yield of 6.5% on the current stock price of HK$7.1. 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 check whether the dividend payments are covered, and if earnings are growing.
Check out our latest analysis for Liu Chong Hing Investment
If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Liu Chong Hing Investment is paying out an acceptable 55% of its profit, a common payout level among most companies. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. It paid out 107% of its free cash flow in the form of dividends last year, which is outside the comfort zone for most businesses. Companies usually need cash more than they need earnings - expenses don't pay themselves - so it's not great to see it paying out so much of its cash flow.
While Liu Chong Hing Investment's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Cash is king, as they say, and were Liu Chong Hing Investment to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.
Click here to see how much of its profit Liu Chong Hing Investment paid out over the last 12 months.
SEHK:194 Historic Dividend August 31st 2022Have Earnings And Dividends Been Growing?
When earnings decline, dividend companies become much harder to analyse and own safely. If earnings fall far enough, the company could be forced to cut its dividend. Liu Chong Hing Investment's earnings per share have fallen at approximately 7.3% a year over the previous five years. When earnings per share fall, the maximum amount of dividends that can be paid also falls.
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. In the past 10 years, Liu Chong Hing Investment has increased its dividend at approximately 4.4% a year on average. That's interesting, but the combination of a growing dividend despite declining earnings can typically only be achieved by paying out more of the company's profits. This can be valuable for shareholders, but it can't go on forever.
To Sum It Up
Is Liu Chong Hing Investment worth buying for its dividend? It's definitely not great to see earnings per share shrinking. The company paid out an acceptable percentage of its income, but an uncomfortably high percentage of its cash flow over the past year. Bottom line: Liu Chong Hing Investment has some unfortunate characteristics that we think could lead to sub-optimal outcomes for dividend investors.
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 Liu Chong Hing Investment. For instance, we've identified 3 warning signs for Liu Chong Hing Investment (1 is a bit concerning) you should be aware of.
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.
老讀者會知道我們喜歡Simply Wall St.的紅利,這就是為什麼看到廖創興投資有限公司(HKG:194)即將在未來4天內進行除股息交易。除股息日期是記錄日期之前的一個工作日,這是股東在公司賬面上有資格獲得股息支付的截止日期。除息日期很重要,因為結算過程需要整整兩個工作日。因此,如果你錯過了那個日期的預期,你就不會在記錄日期出現在公司的賬簿上。這意味着,在9月5日或之後購買劉創興投資股份的投資者將不會收到股息,股息將於9月19日支付。
該公司下一次派息將為每股0.18港元。去年,該公司總共向股東派發了0.46港元。根據上一年的支付金額,劉創興投資公司目前的股價為7.1港元,往績收益率為6.5%。股息是長期持有者投資回報的主要貢獻者,但前提是繼續支付股息。因此,我們需要檢查股息支付是否得到覆蓋,以及收益是否在增長。
查看我們對劉創興投資的最新分析
如果一家公司支付的股息超過了它賺取的股息,那麼股息可能會變得不可持續--這幾乎不是一個理想的情況。劉創興投資公司將支付其利潤的55%,這在大多數公司中是常見的水平。這就是説,即使是高利潤的公司有時也可能無法產生足夠的現金來支付股息,這就是為什麼我們應該總是檢查股息是否由現金流覆蓋。它去年以股息的形式支付了107%的自由現金流,這超出了大多數企業的舒適區。公司通常更需要現金,而不是盈利--支出不會自行支付--所以看到它支付這麼多現金流並不是一件好事。
雖然劉創興投資公司的股息是由該公司公佈的利潤支付的,但現金在某種程度上更重要,所以看到該公司沒有產生足夠的現金來支付股息並不是一件好事。正如他們所説,現金為王,如果劉創興投資公司一再支付現金流無法很好覆蓋的股息,我們會認為這是一個警告信號。
點擊這裏查看劉創興投資公司在過去12個月中支付了多少利潤。
聯交所:194歷史性紅利2022年8月31日盈利和股息一直在增長嗎?
當收益下降時,股利公司就更難分析和安全持有了。如果收益降幅足夠大,該公司可能會被迫削減股息。劉創興投資公司的每股收益在過去五年裏以每年約7.3%的速度下降。當每股收益下降時,可以支付的最高股息金額也會下降。
衡量一家公司股息前景的另一個關鍵方法是衡量其歷史股息增長率。在過去10年中,劉創興投資的股息平均每年增加4.4%左右。這很有趣,但在盈利下降的情況下,股息增加的組合通常只能通過支付更多的公司利潤來實現。這對股東來説可能很有價值,但不可能永遠持續下去。
總結一下
劉創興投資值得為其股息買入嗎?看到每股收益縮水肯定不是什麼好事。該公司支付的收入佔其收入的比例可以接受,但在過去一年中佔其現金流的比例高得令人不安。一句話:劉創興投資有一些不幸的特點,我們認為這些特點可能會導致股息投資者的收益不太理想。
話雖如此,如果你看這隻股票時並不太關心股息,你應該仍然熟悉劉創興投資所涉及的風險。例如,我們已經確定劉創興投資的3個警示信號(1有點令人擔憂)你應該知道。
一個常見的投資錯誤是購買你看到的第一隻有趣的股票。在這裏你可以找到高收益股息股的完整名單。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
風險及免責聲明
moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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