It Might Not Be A Great Idea To Buy Singapore Telecommunications Limited (SGX:Z74) For Its Next Dividend
It Might Not Be A Great Idea To Buy Singapore Telecommunications Limited (SGX:Z74) For Its Next Dividend
Singapore Telecommunications Limited (SGX:Z74) is about to trade ex-dividend in the next 3 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled 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. Thus, you can purchase Singapore Telecommunications' shares before the 1st of August in order to receive the dividend, which the company will pay on the 20th of August.
新加坡電信有限公司(SGX:Z74)將於未來3天內交易除息。除息日是公司股權登記日前一個工作日,也是公司確定哪些股東有權獲得分紅的日期。除息日非常重要,因爲結算的過程涉及兩個完整的工作日。因此,如果您錯過了那個日期,您將不會出現在公司的股東記錄中。因此,您可以在8月1日之前購買新加坡電信的股票以獲得分紅,該公司將在8月20日支付分紅。
The company's next dividend payment will be S$0.079 per share, and in the last 12 months, the company paid a total of S$0.15 per share. Based on the last year's worth of payments, Singapore Telecommunications has a trailing yield of 4.9% on the current stock price of S$3.04. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. As a result, readers should always check whether Singapore Telecommunications has been able to grow its dividends, or if the dividend might be cut.
公司的下一個股息支付金額將爲每股S$0.079,在過去12個月內,公司總共支付每股S$0.15。根據過去一年的支付情況,新加坡電信的當前股價爲每股S$3.04,其追蹤收益率爲4.9%。對於長揸者來說,股息是投資回報率的主要貢獻者,但前提是該股息繼續支付。因此,讀者應始終檢查新加坡電信是否能夠增加其股息,或者股息是否可能被減少。
If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Singapore Telecommunications paid out a disturbingly high 311% of its profit as dividends last year, which makes us concerned there's something we don't fully understand in the business. 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. Over the last year it paid out 75% of its free cash flow as dividends, within the usual range for most companies.
如果一家公司支付的股息超過了其實際收益,那麼該股息可能變得不可持續-這絕不是理想的情況。去年,新加坡電信將其利潤的高達311%支付爲股息,這使我們擔心業務中存在我們不完全了解的某些內容。儘管如此,即使高利潤的公司有時也可能無法產生足夠的現金支付股息,這就是爲什麼我們應始終檢查股息是否被現金流所覆蓋。過去一年,它支付了其自由現金流的75%作爲股息,這在大多數公司中都處於正常範圍內。
It's good to see that while Singapore Telecommunications's dividends were not covered by profits, at least they are affordable from a cash perspective. 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.
很高興看到,雖然新加坡電信的股息不是由利潤所覆蓋,但至少他們從現金角度來看是可支付的。儘管如此,如果公司反覆支付超過其利潤的股息,我們將會感到擔心。很少有公司能持續支付比它們報告的收益更大的股息。
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。
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Have Earnings And Dividends Been Growing?
收益和股息一直在增長嗎?
Businesses with shrinking earnings are tricky from a dividend perspective. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Readers will understand then, why we're concerned to see Singapore Telecommunications's earnings per share have dropped 24% a year over the past five years. Ultimately, when earnings per share decline, the size of the pie from which dividends can be paid, shrinks.
從股息角度來看,收益萎縮的企業是棘手的。如果企業進入低迷期並削減股息,公司的價值可能會急劇下降。讀者會明白,爲什麼我們擔心新加坡電信的每股收益在過去五年中年平均下降了24%。最終,當每股收益下降時,可支付股息的規模也會縮小。
Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Singapore Telecommunications's dividend payments per share have declined at 1.1% per year on average over the past 10 years, which is uninspiring.
許多投資者將通過評估股息支付金額隨時間變化的情況來評估公司的股息表現。在過去的10年中,新加坡電信的股息每股支付金額平均每年下降了1.1%,這並不令人信服。
To Sum It Up
總結一下
Is Singapore Telecommunications an attractive dividend stock, or better left on the shelf? Earnings per share have been in decline, which is not encouraging. What's more, Singapore Telecommunications is paying out a majority of its earnings and over half its free cash flow. It's hard to say if the business has the financial resources and time to turn things around without cutting the dividend. It's not an attractive combination from a dividend perspective, and we're inclined to pass on this one for the time being.
新加坡電信是否是一個有吸引力的股息股票,還是最好不碰它?每股收益在下降,這並不鼓舞人心。此外,新加坡電信支付了大部分的收益和一半以上的自由現金流。很難說這家公司是否有足夠的財務資源和時間來翻盤,而不減少股息。從股息角度來看,這不是一種吸引人的組合,因此我們傾向於暫時放棄它。
With that in mind though, if the poor dividend characteristics of Singapore Telecommunications don't faze you, it's worth being mindful of the risks involved with this business. For example, Singapore Telecommunications has 3 warning signs (and 1 which can't be ignored) we think you should know about.
儘管如此,如果您不關心新加坡電信的劣質股息特徵,那麼有必要注意此業務涉及的風險。例如,我們認爲新加坡電信有3個警告標誌(以及1個無法忽略的標誌),您應該知道。
A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.
一個常見的投資錯誤是購買你看到的第一個有趣的股票。在這裏,您可以找到高股息股票的完整列表。
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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。