Dividend Investors: Don't Be Too Quick To Buy Anhui Xinhua Media Co., Ltd. (SHSE:601801) For Its Upcoming Dividend
Dividend Investors: Don't Be Too Quick To Buy Anhui Xinhua Media Co., Ltd. (SHSE:601801) For Its Upcoming Dividend
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 Anhui Xinhua Media Co., Ltd. (SHSE:601801) is about to go ex-dividend in just 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 an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. In other words, investors can purchase Anhui Xinhua Media's shares before the 1st of July in order to be eligible for the dividend, which will be paid on the 1st of July.
一些投資者依靠分紅派息來增加財富,如果您是那些追蹤分紅的人之一,您可能會想知道皖新傳媒股份有限公司(SHSE:601801)將在4天內開始除息。通常,除息日是登記日的前一個工作日,即公司確定股東有權獲得股息的日期。除息日是一個需要注意的重要日期,因爲在此日期之後購買股票的任何交易可能意味着晚到結算,而不能在登記日上顯示。換句話說,投資者可以在7月1日之前購買皖新傳媒的股票以便有資格獲得分紅,該分紅將在7月1日支付。
The company's next dividend payment will be CN¥0.305 per share. Last year, in total, the company distributed CN¥0.30 to shareholders. Based on the last year's worth of payments, Anhui Xinhua Media stock has a trailing yield of around 4.4% on the current share price of CN¥6.95. 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 investigate whether Anhui Xinhua Media can afford its dividend, and if the dividend could grow.
公司的下一個分紅爲每股人民幣0.305元。去年,該公司共向股東分配了人民幣0.30元。根據去年的所有分配, 以人民幣6.95元的當前股價爲基礎,皖新傳媒的溢價率約爲4.4%。分紅是許多股東收入的重要來源,但企業的健康狀況對維持這些股息至關重要。因此,我們需要調查皖新傳媒是否能夠支付其股息, 並且分紅是否會增長。
If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Anhui Xinhua Media paid out more than half (68%) of its earnings last year, which is a regular payout ratio for most companies. Yet cash flow is typically more important than profit for assessing dividend sustainability, so we should always check if the company generated enough cash to afford its dividend. It paid out an unsustainably high 281% of its free cash flow as dividends over the past 12 months, which is worrying. Unless there were something in the business we're not grasping, this could signal a risk that the dividend may have to be cut in the future.
如果公司支付的股息超過了它賺取的利潤,那麼股息可能變得不可持續,這是遠非理想的情況。去年,皖新傳媒支付了超過一半 (68%) 的盈利,這是大多數公司的常規派息比率。而現金流對於評估股息的可持續性來說通常比利潤更重要,所以我們應該始終檢查公司是否產生了足夠的現金來支付其分紅。過去12個月中,皖新傳媒支付的自由現金流派出的比例高達281%,這是令人擔憂的。除非企業存在我們沒有掌握的業務,否則這可能預示着股息可能在未來被削減。
Anhui Xinhua Media does have a large net cash position on the balance sheet, which could fund large dividends for a time, if the company so chose. Still, smart investors know that it is better to assess dividends relative to the cash and profit generated by the business. Paying dividends out of cash on the balance sheet is not long-term sustainable.
皖新傳媒在資產負債表上擁有大量的淨現金資產,如果公司願意,這可以爲其提供資助一段時間的高額股息。然而,聰明的投資者知道,最好相對於企業所產生的現金和利潤評估股息。從資產負債表上的現金支付股息並非長期可持續。
Anhui Xinhua Media paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough cash to cover the dividend. Cash is king, as they say, and were Anhui Xinhua Media to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign.
皖新傳媒派發的紅利不到利潤的一半,但不幸的是,它產生的現金不足以支付紅利。正如他們所說,現金是王者,如果皖新傳媒反覆派發現金流不被充分覆蓋的紅利,我們將認爲這是一個警示信號。
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.
點擊此處查看公司的支付比率以及未來分紅的分析師預期。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240627/0-44f189e8a1bfa78d2235bf7e1b68664d-0-39cfa6aaf34c5355ba35ff7ecad7fd7a.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增長嗎?
Companies with falling earnings are riskier for dividend shareholders. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. That's why it's not ideal to see Anhui Xinhua Media's earnings per share have been shrinking at 3.7% a year over the previous five years.
盈利下降的公司對於股息股東來說更加風險。如果企業進入衰退並削減股息,那麼企業價值可能急劇下降。這就是爲什麼看到皖新傳媒過去五年的每股收益已經下降了3.7%,並不理想。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. In the past 10 years, Anhui Xinhua Media has increased its dividend at approximately 12% a year on average. That's interesting, but the combination of a growing dividend despite declining earnings can typically only be achieved by paying out more of the company's profits. This can be valuable for shareholders, but it can't go on forever.
大多數投資者評估公司的股息前景的主要方法是檢查股息增長的歷史速度。在過去的10年裏,皖新傳媒的分紅增長速度約爲平均每年12%。這很有趣,但分紅增長儘管企業利潤不斷下降的組合通常只能通過支付更多的公司利潤來實現。這對股東來說是有價值的,但不能持續太久。
The Bottom Line
還有一件事需要注意的是,我們已經確定了上海醫藥的2個警告信號,了解這些信號應該成爲你的投資過程的一部分。
Has Anhui Xinhua Media got what it takes to maintain its dividend payments? Anhui Xinhua Media had an average payout ratio, but its free cash flow was lower and earnings per share have been declining. It's not the most attractive proposition from a dividend perspective, and we'd probably give this one a miss for now.
皖新傳媒有一定的平均派息比率,但其自由現金流較低,每股收益也在下降。從股息的角度來看,這並不是最具吸引力的投資。
Although, if you're still interested in Anhui Xinhua Media and want to know more, you'll find it very useful to know what risks this stock faces. For example, we've found 2 warning signs for Anhui Xinhua Media (1 makes us a bit uncomfortable!) that deserve your attention before investing in the shares.
儘管如此,如果您仍然對皖新傳媒感興趣並想了解更多信息,則了解此股面臨的風險將非常有用。例如,我們發現了2個警告信號對於皖新傳媒 (1 個讓我們有些不舒服!)在投資股票之前值得注意。
If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.
如果你在尋找強勁的股息支付者,我們建議查看我們的頂級股息股票選擇。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
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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