Luzhou Xinglu Water (Group) Co., Ltd. (HKG:2281) Goes Ex-Dividend Soon
Luzhou Xinglu Water (Group) Co., Ltd. (HKG:2281) Goes Ex-Dividend Soon
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 Luzhou Xinglu Water (Group) Co., Ltd. (HKG:2281) is about to go ex-dividend in just 3 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled 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. Thus, you can purchase Luzhou Xinglu Water (Group)'s shares before the 5th of July in order to receive the dividend, which the company will pay on the 31st of July.
一些投资者依赖分红来增加财富,如果你也是那些关注分红的人之一,你可能会被知道兴泸水务即将在3天内进入除息日而感兴趣。除息日是公司股权登记日前一天,是公司确定哪些股东有权获得分红的日期。除息日很重要,因为每当一只股票被买入或卖出时,交易至少需要两个工作日才能结算。因此,你可以在7月5日之前购买兴泸水务的股票,以便获得分红,公司将在7月31日支付分红。
The company's next dividend payment will be CN¥0.05 per share. Last year, in total, the company distributed CN¥0.05 to shareholders. Based on the last year's worth of payments, Luzhou Xinglu Water (Group) stock has a trailing yield of around 8.5% on the current share price of HK$0.63. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to check whether the dividend payments are covered, and if earnings are growing.
公司的下一个分红将为每股0.05人民币。去年,公司总共向股东分配了0.05元人民币。根据去年的支付表现,兴泸水务的股票在当前股价为0.63港元时有大约8.5%的股息率。分红是许多股东收入的重要来源,但企业的健康状况对于维持这些分红至关重要。因此,我们需要检查分红派息是否得到覆盖,并且是否正在增长。
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. Luzhou Xinglu Water (Group) paid out just 21% of its profit last year, which we think is conservatively low and leaves plenty of margin for unexpected circumstances. 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. Luzhou Xinglu Water (Group) paid out more free cash flow than it generated - 186%, 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.
分红通常来自公司的盈利。如果一家公司支付的分红超过了其获得的利润,那么这种分红可能是不可持续的。兴泸水务去年仅支付了其盈利的21%,我们认为这是非常保守的,对于意外情况留下了充分的余地。尽管如此,即使高盈利公司有时候也可能无法产生足够的现金来支付分红 ,这就是为什么我们始终应该检查分红是否被自由现金流覆盖。兴泸水务去年支付的自由现金流超过了其生成的自由现金流——确切地说是186%, 我们认为这是一个令人担忧的高比例。不借债或使用公司资金,持续支付比你生成的现金要多是困难的,因此我们会思考公司如何为这个支付水平提供正当的理由。
While Luzhou Xinglu Water (Group)'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 Luzhou Xinglu Water (Group) to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.
尽管兴泸水务的分红派息是由公司报告的盈利所覆盖的,但现金流有些更为重要,因此我们不希望看到公司没有产生足够的现金来支付分红派息。众所周知,现金为王,假如兴泸水务反复支付不受现金流覆盖的分红,我们将视之为一个警示信号。
Click here to see how much of its profit Luzhou Xinglu Water (Group) paid out over the last 12 months.
点击此处查看兴泸水务在过去12个月中支付的利润总额。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240701/0-9220f4d271749a3417bd815686940014-0-9c45290eaf1aaceeb4d38e1e7374d492.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增长吗?
Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. With that in mind, we're encouraged by the steady growth at Luzhou Xinglu Water (Group), with earnings per share up 6.4% on average over the last five years. Earnings have been growing at a steady rate, but we're concerned dividend payments consumed most of the company's cash flow over the past year.
具有强大成长前景的企业通常成为最佳的股息支付者,因为当每股收益率提高时,增加股息更容易。投资者喜爱股息,因此如果收益率下降并且股息被削减,我们预计股票也将被大量抛售。考虑到这一点,我们对兴泸水务稳定的增长感到鼓舞,过去五年平均每股收益增长了6.4%。收益一直稳定增长,但我们担心在过去的一年中分红派息消耗了公司大部分的现金流。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Luzhou Xinglu Water (Group)'s dividend payments per share have declined at 7.5% per year on average over the past six years, which is uninspiring. Luzhou Xinglu Water (Group) is a rare case where dividends have been decreasing at the same time as earnings per share have been improving. It's unusual to see, and could point to unstable conditions in the core business, or more rarely an intensified focus on reinvesting profits.
大多数投资者评估一家公司的股息前景的主要方式是检查股息增长的历史速率。兴泸水务的每股股息支付平均下降了7.5%,这是过去六年的情况,令人难以启迪。兴泸水务是一个罕见的情况,股息随企业每股收益改善而下降。这是不寻常的,并可能指向核心业务中的不稳定条件,或者更少见的是加大了再投资利润的重心。
To Sum It Up
总结一下
Is Luzhou Xinglu Water (Group) worth buying for its dividend? Luzhou Xinglu Water (Group) delivered reasonable earnings per share growth in recent times, and paid out less than half its profits and 186% of its cash flow over the last year, which is a mediocre outcome. Overall we're not hugely bearish on the stock, but there are likely better dividend investments out there.
对于其分红而言,兴泸水务是否值得购买?兴泸水务近期实现了合理的每股收益增长,并且过去一年支付的利润不到其利润的一半,现金流支付比例为186%,这是一个平庸的结果。总体而言,我们对这只股票并不是非常看淡,但可能有更好的股票投资组合。
With that being said, if dividends aren't your biggest concern with Luzhou Xinglu Water (Group), you should know about the other risks facing this business. Our analysis shows 3 warning signs for Luzhou Xinglu Water (Group) and you should be aware of them before buying any shares.
说完股息派发以后,如果股息不是你关注的最重要问题,那么你应该了解此业务面临的其他风险。我们的分析表明兴泸水务存在3个警示信号,购股前应该明确这些信号。
If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.
如果你在寻找强劲的股息支付者,我们建议查看我们的顶级股息股票选择。
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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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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