Income Investors Should Know That Paychex, Inc. (NASDAQ:PAYX) Goes Ex-Dividend Soon
Income Investors Should Know That Paychex, Inc. (NASDAQ:PAYX) Goes Ex-Dividend Soon
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Paychex, Inc. (NASDAQ:PAYX) is about to trade ex-dividend in the next four days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Thus, you can purchase Paychex's shares before the 8th of August in order to receive the dividend, which the company will pay on the 29th of August.
熟悉我们Simply Wall St的读者将会知道我们喜欢股息,因此看到Paychex, Inc. (NASDAQ:PAYX) 即将在未来四天内交易除权除息,感觉很兴奋。通常,除权除息日是记录股东有资格收到分红的日期之前一个营业日。除权除息日很重要,因为任何股票交易都必须在记录日期之前结算,才能有资格获得分红。因此,你可以在8月8日之前购买Paychex的股票,以获得该公司将于8月29日支付的分红。
The company's next dividend payment will be US$0.98 per share. Last year, in total, the company distributed US$3.92 to shareholders. Last year's total dividend payments show that Paychex has a trailing yield of 3.1% on the current share price of US$127.28. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.
该公司下次的股息支付将为每股0.98美元。去年,该公司总共向股东派发了3.92美元。去年的股息分红总额显示,以当前的股票价格127.28美元计算,Paychex的股息收益率为3.1%。对于长期持有者而言,股息是投资回报的主要组成部分,但前提是持续支付股息。因此,我们应该始终检查股息支付是否可持续,以及公司是否在增长。
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. It paid out 78% of its earnings as dividends last year, which is not unreasonable, but limits reinvestment in the business and leaves the dividend vulnerable to a business downturn. It could become a concern if earnings started to decline. A useful secondary check can be to evaluate whether Paychex generated enough free cash flow to afford its dividend. Over the last year, it paid out more than three-quarters (76%) of its free cash flow generated, which is fairly high and may be starting to limit reinvestment in the business.
股息通常是由公司利润支付的,因此,如果公司支付的金额超过其赚取的利润,那么其股息就有被削减的风险。去年,该公司将78%的收益作为股息支付,这是不过分的,但限制了对业务的再投资,使股息容易受到业务下滑的影响。如果盈利开始下降,这可能成为一个问题。一个有用的第二个检查是评估Paychex是否产生足够的自由现金流来支付其股息。在过去的一年中,该公司支付的股息超过了其生成的自由现金流的四分之三(76%),这是相当高的,可能开始限制公司的再投资。
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?
Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. For this reason, we're glad to see Paychex's earnings per share have risen 10% per annum over the last five years. The company paid out most of its earnings as dividends over the last year, even though business is booming and earnings per share are growing rapidly. We're surprised that management has not elected to reinvest more in the business to accelerate growth further.
那些有持续盈利增长的公司的股票通常是最好的股息前景,因为在收益增长时可以更容易地提高股息。如果盈利下降,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。出乎意料的是,尽管业务正在蓬勃发展,且每股收益正在迅速增长,该公司在过去一年中将大部分收益作为股息支付。我们感到惊讶的是,管理层没有选举更多地再投资业务,加速进一步增长。
Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the past 10 years, Paychex has increased its dividend at approximately 11% a year on average. It's exciting to see that both earnings and dividends per share have grown rapidly over the past few years.
许多投资者将评估公司股息表现的方式是评估股息支付有多少改变。在过去的十年中,Paychex的股息平均每年增长约11%。令人振奋的是,过去几年中每股盈利和股息都快速增长。
To Sum It Up
总结一下
From a dividend perspective, should investors buy or avoid Paychex? Higher earnings per share generally lead to higher dividends from dividend-paying stocks over the long run. That's why we're glad to see Paychex's earnings per share growing, although as we saw, the company is paying out more than half of its earnings and cashflow - 78% and 76% respectively. Overall, it's hard to get excited about Paychex from a dividend perspective.
从股息的角度考虑,投资者应该购买Paychex的股票还是避开呢?一般而言,每股收益越高,股息支付股票的股息也越高。这就是为什么我们很高兴看到Paychex的每股收益在增长,尽管正如我们所看到的,该公司正在支付超过其收益和现金流的一半——分别为78%和76%。总之,从股息的角度考虑,很难对Paychex感到兴奋。
With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. For example - Paychex has 1 warning sign we think you should be aware of.
因此,全面研究股票时的关键部分之一是了解该股票目前面临的任何风险。例如,Paychex有1个警告信号,我们认为你应该意识到。
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.
一般来说,我们不建议仅仅购买第一个股息股票。下面是一个经过策划的有趣的、股息表现良好的股票清单。
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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。