Why It Might Not Make Sense To Buy Wing Tai Properties Limited (HKG:369) For Its Upcoming Dividend
Why It Might Not Make Sense To Buy Wing Tai Properties Limited (HKG:369) For Its Upcoming Dividend
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that Wing Tai Properties Limited (HKG:369) is about to go ex-dividend in just four 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 an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. This means that investors who purchase Wing Tai Properties' shares on or after the 29th of May will not receive the dividend, which will be paid on the 20th of June.
一些投资者依靠分红来增加财富,如果你是这些股息侦探之一,你可能会想知道永泰地产有限公司(HKG: 369)即将在短短四天内除息。除息日是记录日期前的一个工作日,这是股东在公司账簿上有资格获得股息的截止日期。除息日是需要注意的重要日期,因为在该日或之后购买的任何股票都可能意味着延迟结算,而结算日期并未显示在记录日期。这意味着在5月29日当天或之后购买永泰地产股票的投资者将不会获得股息,股息将在6月20日支付。
The company's next dividend payment will be HK$0.08 per share, and in the last 12 months, the company paid a total of HK$0.14 per share. Calculating the last year's worth of payments shows that Wing Tai Properties has a trailing yield of 6.0% on the current share price of HK$2.34. If you buy this business for its dividend, you should have an idea of whether Wing Tai Properties's dividend is reliable and sustainable. So we need to investigate whether Wing Tai Properties can afford its dividend, and if the dividend could grow.
该公司的下一次股息将为每股0.08港元,在过去的12个月中,该公司共支付了每股0.14港元。计算去年的付款额显示,永泰地产的追踪收益率为6.0%,而目前的股价为2.34港元。如果你收购这家企业是为了分红,你应该知道永泰地产的股息是否可靠和可持续。因此,我们需要调查永泰地产能否负担得起股息,以及股息是否可以增长。
Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. Wing Tai Properties'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. Given that the company reported a loss last year, we now need to see if it generated enough free cash flow to fund the dividend. If Wing Tai Properties 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 72% of its free cash flow as dividends, within the usual range for most companies.
股息通常从公司收益中支付。如果一家公司支付的股息超过其利润,那么分红可能是不可持续的。永泰地产的股息无法很好地由收益支付,因为该公司去年亏损。这不是一种可持续的状况,因此值得调查收入是否会恢复。鉴于该公司去年报告了亏损,我们现在需要看看它是否产生了足够的自由现金流来为股息提供资金。如果永泰地产没有产生足够的现金来支付股息,那么它一定要么使用银行现金支付,要么通过借款来支付,从长远来看,这两种方式都是不可持续的。去年,它将自由现金流的72%作为股息支付,在大多数公司的正常范围内。
Click here to see how much of its profit Wing Tai Properties paid out over the last 12 months.
点击此处查看永泰地产在过去12个月中支付了多少利润。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240524/0-57368e058e380c48e92827c7ce70c5fa-0-444b5aa3b962361a5b8033d99e908683.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增长吗?
When earnings decline, dividend companies become much harder to analyse and own safely. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. Wing Tai Properties 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.
当收益下降时,股息公司变得更加难以分析和安全拥有。投资者喜欢分红,因此,如果收益下降而股息减少,预计股票将同时被大量抛售。永泰地产去年无利可图,不幸的是,总体趋势表明其收益在过去五年中一直在下降,这使我们怀疑分红是否可持续。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Wing Tai Properties's dividend payments are broadly unchanged compared to 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.
大多数投资者评估公司股息前景的主要方式是查看历史股息增长率。与10年前相比,永泰地产的股息支付基本没有变化。当收益下降但股息持平时,公司通常要么支付更高的收益,要么用资产负债表上的现金或债务来支付,这两种情况都不理想。
We update our analysis on Wing Tai Properties every 24 hours, so you can always get the latest insights on its financial health, here.
我们每24小时更新一次永泰地产的分析,因此您可以随时在此处获得有关其财务状况的最新见解。
To Sum It Up
总结一下
Has Wing Tai Properties got what it takes to maintain its dividend payments? We're a bit uncomfortable with it paying a dividend while being loss-making. However, we note that the dividend was covered by cash flow. Bottom line: Wing Tai Properties has some unfortunate characteristics that we think could lead to sub-optimal outcomes for dividend investors.
永泰地产是否有能力维持其股息支付?我们对它在亏损的同时支付股息感到有些不舒服。但是,我们注意到股息由现金流支付。底线:永泰地产有一些不幸的特征,我们认为这些特征可能会给股息投资者带来次优结果。
With that being said, if you're still considering Wing Tai Properties as an investment, you'll find it beneficial to know what risks this stock is facing. To help with this, we've discovered 1 warning sign for Wing Tai Properties that you should be aware of before investing in their shares.
话虽如此,如果你仍在考虑将永泰地产作为一项投资,你会发现了解这只股票面临哪些风险是有益的。为了帮助解决这个问题,我们发现了永泰地产的一个警告信号,在投资永泰地产的股票之前,你应该注意这一点。
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.
通常,我们不建议只购买你看到的第一只股息股票。以下是精选的具有强大股息支付能力的有趣股票清单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。