It Might Not Be A Great Idea To Buy Fujian Yuanxiang New Materials Co.,Ltd (SZSE:301300) For Its Next Dividend
It Might Not Be A Great Idea To Buy Fujian Yuanxiang New Materials Co.,Ltd (SZSE:301300) 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 Fujian Yuanxiang New Materials Co.,Ltd (SZSE:301300) is about to trade ex-dividend in the next 2 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 of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. In other words, investors can purchase Fujian Yuanxiang New MaterialsLtd's shares before the 5th of June in order to be eligible for the dividend, which will be paid on the 5th of June.
定期读者将知道我们在Simply Wall St非常重视股息,因此很高兴看到福建元祥新材料股份有限公司(SZSE: 301300)即将在未来2天内交易除息日。除息日是股东在公司账簿上出现以获得派息支付资格的截止日期前一工作日。除息日非常重要,因为每当股票买入或卖出,交易至少需要两个工作日才能结算。换句话说,投资者可以在6月5日之前购买福建元祥新材料有限公司的股票以获得派息,该派息将于6月5日支付。
The company's next dividend payment will be CN¥0.40 per share, and in the last 12 months, the company paid a total of CN¥0.40 per share. Based on the last year's worth of payments, Fujian Yuanxiang New MaterialsLtd has a trailing yield of 1.7% on the current stock price of CN¥23.87. If you buy this business for its dividend, you should have an idea of whether Fujian Yuanxiang New MaterialsLtd's dividend is reliable and sustainable. So we need to check whether the dividend payments are covered, and if earnings are growing.
公司的下一个股息支付为每股CN¥0.40,过去12个月,公司每股支付了总计CN¥0.40。根据过去一年的支付情况,在当前股价CN¥23.87上,福建元祥新材料有限公司的股息率为1.7%。如果您因其股息而购买此业务,那么您应该知道福建元祥新材料有限公司的股息是否可靠且可持续。因此,我们需要检查是否覆盖了股息支付,并且收益是否增长。
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. Fujian Yuanxiang New MaterialsLtd paid out 68% of its earnings to investors last year, a normal payout level for most businesses. A useful secondary check can be to evaluate whether Fujian Yuanxiang New MaterialsLtd generated enough free cash flow to afford its dividend. Fujian Yuanxiang New MaterialsLtd paid out more free cash flow than it generated - 114%, to be precise - last year, which we think is concerningly high. It's hard to consistently pay out more cash than you generate without either borrowing or using company cash, so we'd wonder how the company justifies this payout level.
股息通常是从公司利润中支付的,因此,如果公司支付的股息超过了其收入,则其股息通常面临更大的风险。福建元祥新材料有限公司去年向投资者支付了其收入的68%,这是大多数企业的正常支付水平。在这种情况下进行的一个有用的次要检查是评估福建元祥新材料有限公司是否产生了足够的自由现金流来支付其股息。去年福建元祥新材料有限公司支付了比其产生的自由现金流多114%,这是一个令人担忧的高水平。如果你不能通过借债或使用公司资金持续支付更多的现金,则很难始终支付比你产生的现金更多的现金,因此我们会想知道公司如何证明这种支付水平。
Fujian Yuanxiang New MaterialsLtd does have a large net cash position on the balance sheet, which could fund large dividends for a time, if the company so chose. Still, smart investors know that it is better to assess dividends relative to the cash and profit generated by the business. Paying dividends out of cash on the balance sheet is not long-term sustainable.
福建元祥新材料有限公司在资产负债表上具有大量净现金,如果公司选择,则可以为股东提供大量的股息。但是,聪明的投资者知道,最好是将股息相对于业务产生的现金和利润进行评估。从资产负债表的现金支付股息不是长期可持续的。
While Fujian Yuanxiang New MaterialsLtd'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 Fujian Yuanxiang New MaterialsLtd to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.
虽然福建元祥新材料有限公司的股息支付已被公司报告的利润所覆盖,但现金有点更重要,因此不宜看到公司没有产生足够的现金来支付其股息。俗话说现金为王,如果福建元祥新材料有限公司反复支付的股息不受现金流支持,我们将考虑这是一个警告信号。
Click here to see how much of its profit Fujian Yuanxiang New MaterialsLtd paid out over the last 12 months.
请点击此处查看福建元祥新材料有限公司过去12个月支付的利润比例。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240602/0-41b0f97a9ed0545571187d2e00908bb4-0-c0e04e96dd33146a0fdcad99442d9f73.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增长吗?
Companies with falling earnings are riskier for dividend shareholders. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Readers will understand then, why we're concerned to see Fujian Yuanxiang New MaterialsLtd's earnings per share have dropped 11% a year over the past five years. When earnings per share fall, the maximum amount of dividends that can be paid also falls.
收益下降的公司对于股息股东来说更具风险。如果业务进入下行期且股息被削减,则公司的价值可能会急剧下降。读者将理解为什么我们担心福建元祥新材料有限公司的每股收益在过去五年中年均下降了11%。当每股收益下降时,可以支付的最大股息金额也会下降。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Fujian Yuanxiang New MaterialsLtd's dividend payments are effectively flat on where they were two 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的股息前景的主要方法是检查历史股息增长率。福建元祥新材料有限公司的股息支付实际上与两年前相同。当收益下降但股息不变时,通常公司要么支付更高的收益比例,要么从资产负债表上的现金或债务中支付,这两种情况都不理想。
The Bottom Line
还有一件事需要注意的是,我们已经确定了上海医药的2个警告信号,了解这些信号应该成为你的投资过程的一部分。
Has Fujian Yuanxiang New MaterialsLtd got what it takes to maintain its dividend payments? 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. It's not an attractive combination from a dividend perspective, and we're inclined to pass on this one for the time being.
福建元祥新材料有限公司是否有能力维持其股息支付?看到每股收益下降肯定不是好事。过去一年中,公司支付了可接受的收入百分比,但现金流的占比令人不安。从股息的角度来看,这不是一个有吸引力的组合。因此,我们倾向于暂时宣布放弃。
With that in mind though, if the poor dividend characteristics of Fujian Yuanxiang New MaterialsLtd don't faze you, it's worth being mindful of the risks involved with this business. Every company has risks, and we've spotted 2 warning signs for Fujian Yuanxiang New MaterialsLtd you should know about.
考虑到这一点,如果福建元祥新材料有限公司的股息特征不让您担忧,那么值得注意此业务所涉及的风险。每个公司都有风险,我们已经发现了福建元祥新材料有限公司的2个警告信号,您应该知道。
A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.
一个常见的投资错误是购买你看到的第一个有趣的股票。在这里,您可以找到高股息股票的完整列表。
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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.
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。