Here's Why We're Wary Of Buying Aimer's (SHSE:603511) For Its Upcoming Dividend
Here's Why We're Wary Of Buying Aimer's (SHSE:603511) 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 Aimer Co., Ltd. (SHSE:603511) is about to go ex-dividend in just three days. 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 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 Aimer's shares before the 4th of July to receive the dividend, which will be paid on the 4th of July.
有些投資者依靠分紅來增加財富,如果你是那些分紅投資者之一,你可能會驚喜地發現,艾美商業股份有限公司 (SHSE:603511) 將於3天內發放股息。股息的除息日是在股東需要在公司賬簿上登記才能獲得股息的日子的前一天。股息除淨日很重要,因爲無論何時買賣一隻股票,交易都至少需要兩個營業日才能結算。這意味着,您需要在7月4日之前購買艾美商業股份有限公司的股票才能獲得股息,股息將於7月4日支付。
The company's next dividend payment will be CN¥0.75 per share. Last year, in total, the company distributed CN¥0.75 to shareholders. Based on the last year's worth of payments, Aimer has a trailing yield of 6.1% on the current stock price of CN¥12.28. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.
公司的下一個分紅將是每股0.75元人民幣。去年,該公司總共分配了0.75元人民幣給股東。基於去年的付款總額,艾美商業股份有限公司在當前股價爲12.28元人民幣的情況下具有6.1%的回報率。分紅是許多股東的重要收入來源,但企業的健康狀況對於維持這些分紅至關重要。這就是爲什麼我們應該始終檢查分紅支付是否具有可持續性以及公司是否在增長。
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. Aimer paid out 106% of its earnings, which is more than we're comfortable with, unless there are mitigating circumstances. 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. It paid out more than half (66%) of its free cash flow in the past year, which is within an average range for most companies.
分紅通常來自公司盈利。如果一家公司支付的分紅超過了其獲利,那麼股息可能是不可持續的。艾美商業股份有限公司支付了106%的盈利,這比我們感到舒適的更多,除非有緩解情況。然而,現金流比盈利更重要,以評估分紅,因此我們需要查看公司是否產生足夠的現金以支付其分配。過去一年中,它支付了超過其自由現金流的一半(66%),這在大多數公司中處於平均範圍內。
It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and Aimer fortunately did generate enough cash to fund its dividend. Still, if the company repeatedly paid a dividend greater than its profits, we'd be concerned. Very few companies are able to sustainably pay dividends larger than their reported earnings.
看到分紅沒有由盈利覆蓋是令人失望的,但從股息可持續性的角度來看,現金更爲重要,並且艾美商業股份有限公司確實產生了足夠的現金來支持其分紅。儘管如此,如果公司一再支付大於其盈利的股息,我們會感到擔憂。很少有公司能夠持續支付大於其報告盈利的股息。
Click here to see how much of its profit Aimer paid out over the last 12 months.
點擊此處查看艾美商業股份有限公司在過去12個月中支付了多少利潤。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240630/0-dc41ebf3180783fa9acaa0eac6330834-0-2fb07e6574715ac2d49ccbcfb2075088.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增長嗎?
When earnings decline, dividend companies become much harder to analyse and own safely. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. With that in mind, we're discomforted by Aimer's 11% per annum decline in earnings in the past five years. Such a sharp decline casts doubt on the future sustainability of the dividend.
當收益下降時,分紅公司變得更難分析和安全擁有。如果收益下降,公司被迫削減其股息,投資者可能會看到其投資價值消失。考慮到這一點,我們對艾美商業股份有限公司在過去五年中的每年收益率下降11%感到不安。這樣的急劇下降會對分紅的未來可持續性產生懷疑。
Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Aimer's dividend payments per share have declined at 5.9% per year on average over the past three years, which is uninspiring. 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.
許多投資者將通過評估分紅支付的變化情況來評估公司的分紅表現。過去三年中,艾美商業股份有限公司的每股分紅支付平均下降了5.9%,這令人不鼓舞。儘管近年來每股收益和每股股息下降並不是好的跡象,但我們對管理層削減股息而不是冒險嘗試以保持股東收益而過度承諾公司感到鼓舞。
To Sum It Up
總結一下
Should investors buy Aimer for the upcoming dividend? Earnings per share have been shrinking in recent times. Worse, Aimer's paying out a majority of its earnings and more than half its free cash flow. Positive cash flows are good news but it's not a good combination. Bottom line: Aimer has some unfortunate characteristics that we think could lead to sub-optimal outcomes for dividend investors.
投資者是否應購買艾美商業股份有限公司的即將到來的股息?近期每股收益有所下降。更糟糕的是,艾美商業股份有限公司支付了大部分盈利和超過一半的自由現金流。正現金流是個好消息,但這不是好的組合。
With that being said, if you're still considering Aimer as an investment, you'll find it beneficial to know what risks this stock is facing. For example, we've found 3 warning signs for Aimer (1 is a bit concerning!) that deserve your attention before investing in the shares.
話雖如此,如果您仍在考慮將艾美商業股份有限公司作爲投資,您將發現了解此股面臨的風險是有益的。例如,我們已經發現了3個警告信號,這些警告信號都值得您關注,在購買股票之前要對它們進行充分的評估。
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
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,也可以發送電子郵件至editorial-team@simplywallst.com