Should You Buy Ovintiv Inc. (NYSE:OVV) For Its Upcoming Dividend?
Should You Buy Ovintiv Inc. (NYSE:OVV) For Its Upcoming Dividend?
Readers hoping to buy Ovintiv Inc. (NYSE:OVV) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. 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. 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. This means that investors who purchase Ovintiv's shares on or after the 13th of December will not receive the dividend, which will be paid on the 31st of December.
那些希望購買Ovintiv Inc.(紐交所代碼:OVV)以獲取分紅派息的投資者需要儘快行動,因爲該股票即將進入除息交易。除息日期是記錄日期的前一個交易日,記錄日期是股東在公司賬上出現以獲得分紅派息的截止日期。除息日期至關重要,因爲無論股票是被買入還是賣出,交易至少需要兩個交易日才能結算。這意味着,在12月13日或之後購買Ovintiv股票的投資者將無法獲得將在12月31日支付的分紅派息。
The company's upcoming dividend is US$0.30 a share, following on from the last 12 months, when the company distributed a total of US$1.20 per share to shareholders. Calculating the last year's worth of payments shows that Ovintiv has a trailing yield of 2.9% on the current share price of US$41.20. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to investigate whether Ovintiv can afford its dividend, and if the dividend could grow.
該公司即將支付的分紅派息爲每股0.30美元,接着是過去12個月,該公司向股東分配了每股總計1.20美元。計算去年的分紅派息顯示,Ovintiv在當前股票價格41.20美元上具有2.9%的歷史收益率。分紅派息是長揸者投資回報的重要貢獻者,但只有在分紅派息繼續支付的情況下。因此,我們需要調查Ovintiv是否能夠負擔其分紅派息,以及分紅派息是否可能增長。
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. Ovintiv paid out just 16% of its profit last year, which we think is conservatively low and leaves plenty of margin for unexpected 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. Luckily it paid out just 19% of its free cash flow last year.
分紅派息通常來自公司的盈利。如果一家公司支付的分紅派息超過其賺取的利潤,那麼分紅派息可能是不可持續的。Ovintiv去年僅支付了16%的利潤,我們認爲這個比例持謹慎態度,很少出錯的餘地。然而,現金流對於評估分紅派息比利潤更爲重要,因此我們需要查看公司是否產生了足夠的現金來支付其分紅派息。幸運的是,去年它僅支付了19%的自由現金流。
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現金流的覆蓋是令人鼓舞的。這通常表明股息是可持續的,只要收益沒有急劇下降。
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。
Have Earnings And Dividends Been Growing?
收益和股息一直在增長嗎?
Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. This is why it's a relief to see Ovintiv earnings per share are up 7.1% per annum over the last five years. Earnings per share have been growing at a decent rate, and the company is retaining more than three-quarters of its earnings in the business. If profits are reinvested effectively, this could be a bullish combination for future earnings and dividends.
通常,具有強勁增長前景的企業是最佳的分紅派息者,因爲當每股收益改善時,增加分紅會更容易。如果收益下降,公司被迫削減分紅,投資者可能會看到他們的投資價值化爲烏有。這就是爲什麼看到Ovintiv的每股收益在過去五年中年均增長7.1%讓人感到寬慰的原因。每股收益保持在一個不錯的增長速度,公司在業務中保留了超過四分之三的收益。如果利潤能夠有效再投資,這可能會爲未來的收益和分紅派息提供看好的組合。
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. Ovintiv's dividend payments per share have declined at 1.5% per year on average over the past 10 years, which is uninspiring.
測量公司分紅前景的另一個關鍵方式是評估其歷史分紅增長率。在過去10年中,Ovintiv每股的分紅支付平均下降了1.5%,這讓人失望。
The Bottom Line
最終結論
From a dividend perspective, should investors buy or avoid Ovintiv? Earnings per share growth has been growing somewhat, and Ovintiv is paying out less than half its earnings and cash flow as dividends. This is interesting for a few reasons, as it suggests management may be reinvesting heavily in the business, but it also provides room to increase the dividend in time. It might be nice to see earnings growing faster, but Ovintiv is being conservative with its dividend payouts and could still perform reasonably over the long run. Ovintiv looks solid on this analysis overall, and we'd definitely consider investigating it more closely.
從分紅的角度來看,投資者應該買入還是避免Ovintiv?每股收益增長略有增加,而Ovintiv支付的分紅少於其收益和現金流的一半。這讓人感興趣,因爲這表明管理層可能在大力再投資於業務,但也留出了增加分紅的空間。看到收益增長得更快當然不錯,但Ovintiv在分紅派息方面相對謹慎,長期來看仍然可能有良好的表現。從整體分析來看,Ovintiv顯得很穩固,我們肯定會考慮更深入地研究一下。
With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. To that end, you should learn about the 3 warning signs we've spotted with Ovintiv (including 1 which doesn't sit too well with us).
考慮到這一點,徹底的股票研究的一個關鍵部分是要意識到股票當前面臨的任何風險。爲此,您應該了解我們發現的與Ovintiv相關的3個警告信號(其中包括1個讓我們感到不太舒服的信號)。
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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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。