We Wouldn't Be Too Quick To Buy Shanghai Bailian (Group) Co., Ltd. (SHSE:600827) Before It Goes Ex-Dividend
We Wouldn't Be Too Quick To Buy Shanghai Bailian (Group) Co., Ltd. (SHSE:600827) Before It Goes Ex-Dividend
Shanghai Bailian (Group) Co., Ltd. (SHSE:600827) is about to trade ex-dividend in the next three days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the 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. Meaning, you will need to purchase Shanghai Bailian (Group)'s shares before the 22nd of July to receive the dividend, which will be paid on the 22nd of July.
上海百联股份有限公司(SHSE:600827)将在接下来的三天内分红派息交易。分红前日通常设置为记录日的前一天,记录日是您必须在公司股东名册上出现的截止日期,以便收到股息。分红前日很重要,因为无论何时买入或卖出股票,交易都需要至少两个工作日才能结算。也就是说,您需要在7月22日之前购买上海百联股份的股票才能获得股息,在7月22日支付。
The company's next dividend payment will be CN¥0.12 per share, and in the last 12 months, the company paid a total of CN¥0.12 per share. Calculating the last year's worth of payments shows that Shanghai Bailian (Group) has a trailing yield of 1.5% on the current share price of CN¥7.92. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. We need to see whether the dividend is covered by earnings and if it's growing.
公司的下一次分红为人民币0.12元/股,在过去12个月中,公司每股支付了总计人民币0.12元。计算去年的支付金额显示,上海百联股份在人民币7.92元的现在股价上拥有1.5%的跟踪收益率。对于长期持有者来说,分红是投资回报的主要贡献者,但前提是分红继续支付。我们需要看到分红是否由盈利支持,以及分红是否在增长。
If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Shanghai Bailian (Group) is paying out an acceptable 56% of its profit, a common payout level among most companies. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. Over the last year, it paid out more than three-quarters (82%) of its free cash flow generated, which is fairly high and may be starting to limit reinvestment in the business.
如果公司支付的股息超过了其赚取的利润,则分红可能变得不可持续,这绝不是一个理想的情况。上海百联股份支付了可接受的盈利的56%,这是大多数公司的普遍分红水平。但是,对于评估股息而言,现金流比利润更重要,因此我们需要看看公司是否产生了足够的现金来支付其分配。在过去的一年中,它支付了超过自由现金流的三分之三(82%),这相当高,并且可能开始限制业务再投资。
It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.
看到股息既有盈利也有现金流的覆盖是令人鼓舞的。这通常表明股息是可持续的,只要收益没有急剧下降。
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.
点击此处查看公司的支付比率以及未来分红的分析师预期。
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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. With that in mind, we're discomforted by Shanghai Bailian (Group)'s 15% per annum decline in earnings in the past five years. Such a sharp decline casts doubt on the future sustainability of the dividend.
当收益下降时,分红公司变得更难分析和安全拥有。投资者喜欢股息,因此如果收益下降并且股息减少,则预计同时会大量卖出股票。考虑到这一点,我们对上海百联股份在过去五年中每年下降15%的收益感到不安。如此剧烈的下降对分红的可持续性的未来产生了怀疑。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Shanghai Bailian (Group) has seen its dividend decline 6.3% per annum on average over the past 10 years, which is not great to see. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders.
多数投资者评估公司的股息前景的主要方法是检查股息增长的历史率。上海百联股份每股股息平均下降了6.3%,达到过去10年,这是不好的。尽管近年来收益和每股股息下降并不好看,但我们欣慰地看到,管理层已经削减了股息,而不是冒险过度承诺公司以保持股息对股东的回报。
Final Takeaway
最后的结论
Has Shanghai Bailian (Group) got what it takes to maintain its dividend payments? While earnings per share are shrinking, it's encouraging to see that at least Shanghai Bailian (Group)'s dividend appears sustainable, with earnings and cashflow payout ratios that are within reasonable bounds. Bottom line: Shanghai Bailian (Group) has some unfortunate characteristics that we think could lead to sub-optimal outcomes for dividend investors.
上海百联股份是否有能力维持其股息支付?尽管每股收益正在减少,但令人鼓舞的是,至少上海百联股份的股息似乎是可持续的,其盈利和现金流分配比率在合理范围内。 重点是:上海百联股份具有某些不利因素,我们认为这可能会导致股息投资者的次优结果。
With that in mind though, if the poor dividend characteristics of Shanghai Bailian (Group) don't faze you, it's worth being mindful of the risks involved with this business. To help with this, we've discovered 2 warning signs for Shanghai Bailian (Group) that you should be aware of before investing in their shares.
考虑到这一点,如果上海百联股份的糟糕分红特征不让您感到困惑,则值得留意此业务所涉及的风险。为了帮助我们做到这一点,我们已经发现了2个警告信号,这是在投资他们的股票之前应该注意的。
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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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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。
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
对本文有反馈?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。