Should Income Investors Look At Cactus, Inc. (NYSE:WHD) Before Its Ex-Dividend?
Should Income Investors Look At Cactus, Inc. (NYSE:WHD) Before Its Ex-Dividend?
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Cactus, Inc. (NYSE:WHD) is about to trade ex-dividend in the next 4 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 as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Meaning, you will need to purchase Cactus' shares before the 23rd of February to receive the dividend, which will be paid on the 14th of March.
普通读者会知道我们喜欢Simply Wall St的股息,这就是为什么看到Cactus, Inc.(纽约证券交易所代码:WHD)即将在未来4天内进行除息交易令人兴奋的原因。通常,除息日是记录日期前一个工作日,即公司确定有资格获得股息的股东的日期。除息日很重要,因为结算过程涉及两个完整的工作日。因此,如果你错过了那个日期,你就不会在记录的日期出现在公司的账簿上。这意味着,您需要在2月23日之前购买Cactus的股票才能获得股息,股息将于3月14日支付。
The company's upcoming dividend is US$0.12 a share, following on from the last 12 months, when the company distributed a total of US$0.48 per share to shareholders. Calculating the last year's worth of payments shows that Cactus has a trailing yield of 1.0% on the current share price of US$46.17. 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.
该公司即将派发的股息为每股0.12美元,此前该公司向股东共分配了每股0.48美元。计算去年的付款额显示,Cactus的尾随收益率为1.0%,而目前的股价为46.17美元。股息是长期持有者投资回报的主要贡献者,但前提是继续支付股息。这就是为什么我们应该经常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. Cactus has a low and conservative payout ratio of just 19% of its income after tax. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. It paid out 12% of its free cash flow as dividends last year, which is conservatively low.
股息通常从公司利润中支付,因此,如果公司支付的股息超过其收入,则其股息被削减的风险通常更大。仙人掌的派息率低而保守,仅占其税后收入的19%。话虽如此,即使是高利润的公司有时也可能无法产生足够的现金来支付股息,这就是为什么我们应该始终检查股息是否由现金流支付。它去年将自由现金流的12%作为股息支付,保守地较低。
It's positive to see that Cactus's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.
可以肯定的是,Cactus的股息由利润和现金流共同支付,因为这通常表明股息是可持续的,而较低的派息率通常表明在削减股息之前有更大的安全余地。
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.
点击此处查看该公司的派息率,以及分析师对其未来股息的估计。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240218/0-ce0555ab83fc66f1649fc0a72efcbc6e-0-42bb11fbe2f1d2b31ca9e8968d93bdec.png/big)
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 earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. Cactus's earnings per share have plummeted approximately 74% a year over the previous five years.
当收益下降时,股息公司变得更加难以分析和安全拥有。如果收益下降而公司被迫削减股息,投资者可能会看到他们的投资价值化为乌有。在过去五年中,Cactus的每股收益每年下降约74%。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Cactus has delivered 7.5% dividend growth per year on average over the past four years.
大多数投资者评估公司股息前景的主要方式是查看历史股息增长率。在过去四年中,Cactus的股息平均每年增长7.5%。
The Bottom Line
底线
From a dividend perspective, should investors buy or avoid Cactus? Earnings per share are down meaningfully, although at least the company is paying out a low and conservative percentage of both its earnings and cash flow. It's definitely not great to see earnings falling, but at least there may be some buffer before the dividend needs to be cut. Overall we're not hugely bearish on the stock, but there are likely better dividend investments out there.
从股息的角度来看,投资者应该买入还是避开仙人掌?尽管至少该公司支付的收益和现金流百分比很低且保守,但每股收益却大幅下降。看到收益下降绝对不是一件好事,但至少在需要削减股息之前可能会有一些缓冲。总体而言,我们对该股并不十分看跌,但可能有更好的股息投资。
Curious what other investors think of Cactus? See what analysts are forecasting, with this visualisation of its historical and future estimated earnings and cash flow.
好奇其他投资者对仙人掌的看法吗?通过此可视化分析师的历史和未来估计收益和现金流,了解分析师的预测。
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.
通常,我们不建议只购买你看到的第一只股息股票。以下是精选的具有强大股息支付能力的有趣股票清单。
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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.
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。