Here's Why We're Wary Of Buying Keppel Infrastructure Trust's (SGX:A7RU) For Its Upcoming Dividend
Here's Why We're Wary Of Buying Keppel Infrastructure Trust's (SGX:A7RU) For Its Upcoming Dividend
Readers hoping to buy Keppel Infrastructure Trust (SGX:A7RU) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. 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 Keppel Infrastructure Trust's shares on or after the 2nd of August will not receive the dividend, which will be paid on the 13th of August.
想通过股息购买凯珀基础设施信托(SGX:A7RU)的读者们需要尽快采取行动,因为该股票即将进行除息交易。除息日比记录日提前一天,即股东需要在公司股东簿上显示出来以便领取分红的日子。除息日很重要,因为结算的过程需要两个完整的营业日。如果你错过了这个日期,就不会在记录日出现在公司的股东簿上。这意味着那些在8月2日或之后购买凯珀基础设施信托股票的投资者将无法获得将在8月13日支付的股息。
The company's next dividend payment will be S$0.0195 per share, and in the last 12 months, the company paid a total of S$0.039 per share. Based on the last year's worth of payments, Keppel Infrastructure Trust has a trailing yield of 8.0% on the current stock price of S$0.48. If you buy this business for its dividend, you should have an idea of whether Keppel Infrastructure Trust's dividend is reliable and sustainable. As a result, readers should always check whether Keppel Infrastructure Trust has been able to grow its dividends, or if the dividend might be cut.
该公司下一次的股息支付将为每股0.0195新加坡元,在过去的12个月中,该公司每股总共支付了0.039新加坡元。根据去年的股息来看,凯珀基础设施信托在目前的股价0.48新加坡元的基础上有8.0%的股息收益率。如果你想通过股息购买这个业务,你应该知道凯珀基础设施信托的股息是否可靠和可持续。因此,读者们应该始终检查凯珀基础设施信托是否能够增长其股息,或者股息是否可能被削减。
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. Last year, Keppel Infrastructure Trust paid out 244% of its profit to shareholders in the form of dividends. This is not sustainable behaviour and requires a closer look on behalf of the purchaser. 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 (83%) of its free cash flow generated, which is fairly high and may be starting to limit reinvestment in the business.
分红通常来自公司的盈利。如果一个公司支付的股息超过其盈利,那么这个股息可能是不可持续的。去年,凯珀基础设施信托以股息的形式向股东支付了其利润的244%。这种行为是不可持续的,需要购买者进一步了解。然而,现金流比盈利更重要,用于评估股息,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收入的四分之三(83%),这是相当高的,可能开始限制业务的再投资。
It's good to see that while Keppel Infrastructure Trust's dividends were not covered by profits, at least they are affordable from a cash perspective. Still, if the company repeatedly paid a dividend greater than its profits, we'd be concerned. Extraordinarily few companies are capable of persistently paying a dividend that is greater than their profits.
很高兴看到,尽管凯珀基础设施信托的股息并没有由盈利覆盖,但至少从现金方面来看,它们是可供支付的。然而,如果公司反复支付的股息超过了其利润,我们将会担心。极少有公司能够持续支付大于其利润的股息。
Click here to see how much of its profit Keppel Infrastructure Trust paid out over the last 12 months.
点击这里查看凯珀基础设施信托在过去12个月中支付的利润总额。
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Have Earnings And Dividends Been Growing?
收益和股息一直在增长吗?
Companies that aren't growing their earnings can still be valuable, but it is even more important to assess the sustainability of the dividend if it looks like the company will struggle to grow. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. It's not encouraging to see that Keppel Infrastructure Trust's earnings are effectively flat over the past five years. It's better than seeing them drop, certainly, but over the long term, all of the best dividend stocks are able to meaningfully grow their earnings per share.
没有增长收益的公司仍然可能很有价值,但如果看起来公司将难以增长,评估股息的可持续性就更加重要了。如果收益下降,公司被迫削减股息,投资者可能会看到他们的投资价值烟消云散。凯珀基础设施信托的收益在过去的五年中基本上持平,这种情况并不令人鼓舞。当然,它比看到它们下降要好,但从长远来看,所有最好的股息股票都能够显著增长其每股收益。
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. Keppel Infrastructure Trust has delivered an average of 1.6% per year annual increase in its dividend, based on the past 10 years of dividend payments.
衡量公司股息前景的另一个重要方法是衡量其历史股息增长率。根据过去10年的股息支付,凯珀基础设施信托的股息平均每年增长了1.6%。
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。
Should investors buy Keppel Infrastructure Trust for the upcoming dividend? Earnings per share have barely moved in recent times, and the company is paying out an uncomfortably high percentage of its income. Fortunately its cash generation was somewhat stronger. Bottom line: Keppel Infrastructure Trust has some unfortunate characteristics that we think could lead to sub-optimal outcomes for dividend investors.
投资者是否应该购买凯珀基础设施信托的即将到来的股息?在最近的时期内,每股收益几乎没有变化,公司支付了一个令人不舒服的高百分比的收入。幸运的是,它的现金产生略微更加强劲。总之,凯珀基础设施信托有一些令人不幸的特点,我们认为它可能导致股息投资者的次优结果。
With that being said, if you're still considering Keppel Infrastructure Trust as an investment, you'll find it beneficial to know what risks this stock is facing. We've identified 2 warning signs with Keppel Infrastructure Trust (at least 1 which is a bit concerning), and understanding them should be part of your investment process.
话虽如此,如果您仍在考虑将凯珀基础设施信托作为一项投资,您会发现了解该股面临哪些风险是有益的。我们已经确定了凯珀基础设施信托的2个警告迹象(至少有1个有点令人担忧),了解它们应该成为您投资过程的一部分。
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
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。