Do These 3 Checks Before Buying Hebei Yangyuan ZhiHui Beverage Co., Ltd. (SHSE:603156) For Its Upcoming Dividend
Do These 3 Checks Before Buying Hebei Yangyuan ZhiHui Beverage Co., Ltd. (SHSE:603156) For Its Upcoming Dividend
Hebei Yangyuan ZhiHui Beverage Co., Ltd. (SHSE:603156) is about to trade ex-dividend in the next two 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. 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 Hebei Yangyuan ZhiHui Beverage's shares on or after the 5th of June, you won't be eligible to receive the dividend, when it is paid on the 5th of June.
河北养元智汇饮料股份有限公司(SHSE:603156)将在未来两天内交易除权。除息日是指股东需要进入公司股本名册的前一天,才能有资格分红派息。了解除息日非常重要,因为任何交易股票都必须在股权登记日或之前进行结算。因此,如果你在6月5日或之后购买河北养元智汇饮料的股票,在6月5日分红派息时将无法获得分红派息。
The company's next dividend payment will be CN¥1.60 per share, and in the last 12 months, the company paid a total of CN¥1.60 per share. Looking at the last 12 months of distributions, Hebei Yangyuan ZhiHui Beverage has a trailing yield of approximately 6.3% on its current stock price of CN¥25.56. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. We need to see whether the dividend is covered by earnings and if it's growing.
该公司的下一次分红派息将是每股人民币1.60元,在过去的12个月中,该公司每股共派发了人民币1.60元。回顾过去12个月的分配情况,河北养元智汇饮料的当前股价为人民币25.56元,追溯收益率约为6.3%。分红派息是长期持有者投资回报的一个主要贡献者,但前提是分红派息继续进行。我们需要看到分红是否得到盈利的支持并且增长如何。
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. Hebei Yangyuan ZhiHui Beverage distributed an unsustainably high 125% of its profit as dividends to shareholders last year. Without extenuating circumstances, we'd consider the dividend at risk of a cut. 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. Hebei Yangyuan ZhiHui Beverage paid out more free cash flow than it generated - 132%, to be precise - last year, which we think is concerningly high. It's hard to consistently pay out more cash than you generate without either borrowing or using company cash, so we'd wonder how the company justifies this payout level.
分红派息通常来自公司的盈利。如果公司支付的分红派息高于盈利,则分红派息可能不可持续。去年,河北养元智汇饮料将其125%的利润以分红派息的形式支付给股东,分红派息过高,可能会被削减。但是,相对于盈利,现金流比利润更重要,因此我们需要查看公司是否生成足够的现金以支付派息。去年,河北养元智汇饮料的自由现金流支出超过了其生成的现金流 - 精确到132%,我们认为这个数字是异常高的。在没有借款或使用公司资金的情况下,持续支付更多的现金而不是生成更多的现金是比较困难的,因此我们怀疑公司如何证明这种支付水平合理。
Hebei Yangyuan ZhiHui Beverage 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.
河北养元智汇饮料确实在资产负债表上具有很高的净现金头寸,如果公司愿意,可以在一段时间内为股东提供巨额的分红派息。然而,聪明的投资者知道,最好相对于公司产生的现金和利润来评估分红派息。从资产负债表上的现金支付分红派息并不可持续。
As Hebei Yangyuan ZhiHui Beverage's dividend was not well covered by either earnings or cash flow, we would be concerned that this dividend could be at risk over the long term.
由于河北养元智汇饮料的分红派息与盈利或现金流无法充分覆盖,我们担心这种分红派息在长期内可能面临风险。
Click here to see how much of its profit Hebei Yangyuan ZhiHui Beverage paid out over the last 12 months.
点击此处查看河北养元智汇饮料在过去12个月中支付的利润总额。
![historic-dividend](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240602/0-fb598f844f21687e5dcf562d522beb82-0-1c11cc9a8de308fa6c9dbeeaa0f6cc96.png/big)
Have Earnings And Dividends Been Growing?
收益和股息一直在增长吗?
Companies with falling earnings are riskier for dividend shareholders. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. Hebei Yangyuan ZhiHui Beverage's earnings per share have fallen at approximately 11% a year over the previous five years. When earnings per share fall, the maximum amount of dividends that can be paid also falls.
盈利下滑的公司对于分红的股东来说存在风险。如果盈利下降并迫使公司削减其分红,投资者可能会看到其投资价值烟消云散。河北养元智汇饮料每股盈利在过去5年中年均下降约11%。当每股盈利下降时,可以支付的分红的最大金额也会下降。
Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. In the past six years, Hebei Yangyuan ZhiHui Beverage has increased its dividend at approximately 6.4% a year on average. That's intriguing, but the combination of growing dividends despite declining earnings can typically only be achieved by paying out a larger percentage of profits. Hebei Yangyuan ZhiHui Beverage is already paying out a high percentage of its income, so without earnings growth, we're doubtful of whether this dividend will grow much in the future.
衡量公司分红前景的另一个关键方法是测量其历史分红增长率。过去6年中,河北养元智汇饮料的年均分红派息增长率约为6.4%。虽然这很有趣,但是尽管收益下降,持续增加分红派息的组合通常只能通过支付更高百分比的利润来实现。河北养元智汇饮料已经支付了高百分比的收入,因此在没有盈利增长的情况下,我们对该股票的分红派息是否能够大幅增长表示怀疑。
Final Takeaway
最后的结论
Has Hebei Yangyuan ZhiHui Beverage got what it takes to maintain its dividend payments? Not only are earnings per share declining, but Hebei Yangyuan ZhiHui Beverage is paying out an uncomfortably high percentage of both its earnings and cashflow to shareholders as dividends. This is a starkly negative combination that often suggests a dividend cut could be in the company's near future. It's not the most attractive proposition from a dividend perspective, and we'd probably give this one a miss for now.
河北养元智汇饮料是否具备维持其分红派息的能力?每股盈利虽然在下降,但河北养元智汇饮料向股东支付的盈利和现金流的百分比已经达到了令人不安的高水平。这是一种非常消极的组合,通常表明该公司的分红派息可能会被削减。从分红的角度来看,这不是最有吸引力的选择,我们可能应该暂时放弃这个股票。
Having said that, if you're looking at this stock without much concern for the dividend, you should still be familiar of the risks involved with Hebei Yangyuan ZhiHui Beverage. Case in point: We've spotted 2 warning signs for Hebei Yangyuan ZhiHui Beverage you should be aware of.
然而,如果你对于该公司的分红派息并不太担心,你仍需熟悉掌握河北养元智汇饮料的风险。警惕:我们已经发现了2个河北养元智汇饮料股票的警告信号,你需要知道。
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。
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