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Don't Race Out To Buy Leeport (Holdings) Limited (HKG:387) Just Because It's Going Ex-Dividend

Don't Race Out To Buy Leeport (Holdings) Limited (HKG:387) Just Because It's Going Ex-Dividend

不要急着买入Leeport (Holdings) Limited (HKG:387),只因为它即将除息。
Simply Wall St ·  2024/08/31 06:15

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Leeport (Holdings) Limited (HKG:387) is about to trade ex-dividend in the next 4 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. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Therefore, if you purchase Leeport (Holdings)'s shares on or after the 4th of September, you won't be eligible to receive the dividend, when it is paid on the 27th of September.

熟悉我们的读者都会知道,我们在Simply Wall St非常喜欢我们的分红,所以看到Leeport(Holdings)Limited(HKG:387)即将在未来的4天内进行除息交易非常令人兴奋。除权除息日期是股东登记日前的下一个工作日,也就是股东在公司账薄上的截止日期,以便有资格获得分红派息。了解除息交易日非常重要,因为任何股票交易都必须在股东登记日或之前结算。因此,如果您在9月4日之后购买了Leeport(Holdings)的股票,您将无法获得分红派息,该派息将于9月27日支付。

The company's upcoming dividend is HK$0.03 a share, following on from the last 12 months, when the company distributed a total of HK$0.045 per share to shareholders. Calculating the last year's worth of payments shows that Leeport (Holdings) has a trailing yield of 6.0% on the current share price of HK$0.75. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. As a result, readers should always check whether Leeport (Holdings) has been able to grow its dividends, or if the dividend might be cut.

公司即将派发的股息是每股0.03港元,继上次12个月中公司向股东分派了每股0.045港元之后。计算过去一年的派息金额显示,Leeport(Holdings)的股息收益率为6.0%,目前股价为0.75港元。对于长期持有股票的投资者来说,分红派息是投资收益的重要组成部分,但前提是公司能够持续支付分红。因此,读者应该经常检查Leeport(Holdings)能否增加其分红派息,或者分红可能会被削减。

If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Last year Leeport (Holdings) paid out 105% of its profits as dividends to shareholders, suggesting the dividend is not well covered by earnings. A useful secondary check can be to evaluate whether Leeport (Holdings) generated enough free cash flow to afford its dividend. What's good is that dividends were well covered by free cash flow, with the company paying out 5.4% of its cash flow last year.

如果一家公司支付的分红超过其盈利,那么分红可能变得不可持续-这显然不是理想的情况。去年,Leeport(Holdings)将其盈利的105%作为分红派息支付给股东,表明该分红派息未得到盈利充分覆盖。一个有用的辅助检查是评估Leeport(Holdings)是否产生了足够的自由现金流来支付其分红派息。好消息是,分红派息得到了充分的自由现金流覆盖,去年公司支付的派息占其现金流的5.4%。

It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and Leeport (Holdings) fortunately did generate enough cash to fund its dividend. If executives were to continue paying more in dividends than the company reported in profits, we'd view this as a warning sign. Very few companies are able to sustainably pay dividends larger than their reported earnings.

看到分红派息未被盈利覆盖的情况令人失望,但从分红可持续性的角度来看,现金更重要,而Leeport(Holdings)幸运地创造了足够的现金来支付其分红派息。如果高管继续支付超过公司盈利的分红派息,我们将视之为一个警告信号。很少有公司能够持续支付大于其报告盈利的分红派息。

Click here to see how much of its profit Leeport (Holdings) paid out over the last 12 months.

单击此处以查看Leeport(Holdings)在过去12个月中支付了多少利润。

1725056155374
SEHK:387 Historic Dividend August 30th 2024
SEHK:387于2024年8月30日的历史分红

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. 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 Leeport (Holdings)'s earnings per share have dropped 5.8% a year over the past five years. Ultimately, when earnings per share decline, the size of the pie from which dividends can be paid, shrinks.

当收益下降时,分红公司变得更难以分析和安全持有。如果业务处于衰退并且分红被削减,公司的价值可能会急剧下降。因此,读者会理解为什么我们担心Leeport(控股)的每股收益在过去五年中每年下降了5.8%。最终,当每股收益下降时,可以支付分红的饼的大小也会减小。

The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Since the start of our data, 10 years ago, Leeport (Holdings) has lifted its dividend by approximately 12% a year on average. The only way to pay higher dividends when earnings are shrinking is either to pay out a larger percentage of profits, spend cash from the balance sheet, or borrow the money. Leeport (Holdings) is already paying out 105% of its profits, and with shrinking earnings we think it's unlikely that this dividend will grow quickly in the future.

大多数投资者评估公司分红前景的主要方法是检查分红增长的历史速度。自我们数据开始计算的10年以来,Leeport(控股)每年的分红增长约为12%。当收益下降时,支付更高的分红的唯一方法是支付更高的利润比例,使用资产负债表上的现金,或者借钱。Leeport(控股)已经支付了其利润的105%,而且随着收益的下降,我们认为这个分红不太可能在未来快速增长。

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。

From a dividend perspective, should investors buy or avoid Leeport (Holdings)? It's never great to see earnings per share declining, especially when a company is paying out 105% of its profit as dividends, which we feel is uncomfortably high. However, the cash payout ratio was much lower - good news from a dividend perspective - which makes us wonder why there is such a mis-match between income and cashflow. Overall it doesn't look like the most suitable dividend stock for a long-term buy and hold investor.

从分红的角度来看,投资者应该买入或避免李普特(控股)?当一家公司将其利润的105%支付为股息时,我们认为EPS下降,尤其是看到这种情况,这显然并不好。然而,现金支付比率要低得多-从分红角度来看是好消息-这让我们想知道收入和现金流之间为什么存在这样的错配。总体而言,对于长期持有投资者来说,它似乎不是最适合的分红股。

So if you're still interested in Leeport (Holdings) despite it's poor dividend qualities, you should be well informed on some of the risks facing this stock. For example, we've found 3 warning signs for Leeport (Holdings) that we recommend you consider before investing in the business.

所以,如果你尽管李普特(控股)的分红质量不佳,但仍然对其感兴趣,你应该了解一些该股面临的风险。例如,我们发现了3个对李普特(控股)的警告信号,我们建议您在投资之前考虑这些警告信号。

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。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。

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