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Read This Before Considering YHI International Limited (SGX:BPF) For Its Upcoming S$0.036 Dividend

Read This Before Considering YHI International Limited (SGX:BPF) For Its Upcoming S$0.036 Dividend

在考慮YHI International Limited(新加坡交易所代碼:BPF)即將派發0.036新元的股息之前,請先閱讀此內容
Simply Wall St ·  2023/05/01 08:27

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see YHI International Limited (SGX:BPF) is about to trade ex-dividend in the next 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. In other words, investors can purchase YHI International's shares before the 5th of May in order to be eligible for the dividend, which will be paid on the 18th of May.

普通讀者會知道我們喜歡 Simply Wall St 的分紅,這就是爲甚麼看到它令人興奮的原因 YHI 國際有限公司 (SGX: BPF) 即將在未來三天內進行除息交易。除息日爲記錄日期的前一天,即股東需要在公司賬簿上登記才能獲得股息的那一天。除息日之所以如此,是因爲每當買入或賣出股票時,交易至少需要兩個工作日才能結算。換句話說,投資者可以在5月5日之前購買YHI International的股票,以獲得分紅的資格,股息將於5月18日支付。

The company's next dividend payment will be S$0.036 per share, on the back of last year when the company paid a total of S$0.036 to shareholders. Last year's total dividend payments show that YHI International has a trailing yield of 6.9% on the current share price of SGD0.52. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! As a result, readers should always check whether YHI International has been able to grow its dividends, or if the dividend might be cut.

該公司的下一次股息將爲每股0.036新元,去年該公司向股東共支付了0.036新元。去年的股息支付總額顯示,YHI International的後續收益率爲6.9%,而目前的股價爲0.52新加坡元。我們喜歡看到公司支付股息,但同樣重要的是要確保下金蛋不會殺死我們的金鵝!因此,讀者應隨時檢查YHI International是否能夠增加股息,或者股息是否可能被削減。

See our latest analysis for YHI International

查看我們對YHI International的最新分析

If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. YHI International paid out 50% of its earnings to investors last year, a normal payout level for most businesses. 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 104% of its free cash flow in the form of dividends last year, which is outside the comfort zone for most businesses. Cash flows are usually much more volatile than earnings, so this could be a temporary effect - but we'd generally want to look more closely here.

如果一家公司支付的股息多於所賺取的股息,那麼分紅可能會變得不可持續,這並不是一個理想的情況。去年,YHI International將其收益的50%支付給了投資者,這是大多數企業的正常支付水平。也就是說,即使是利潤豐厚的公司有時也可能無法產生足夠的現金來支付股息,這就是爲甚麼我們應該經常檢查股息是否由現金流支付。去年,它以分紅的形式支付了自由現金流的104%,這對於大多數企業來說都超出了舒適區。現金流的波動性通常比收益大得多,因此這可能是暫時的影響,但我們通常希望在此處進行更仔細的研究。

YHI International 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.

YHI International在資產負債表上確實有龐大的淨現金狀況,如果公司願意,這可以在一段時間內爲鉅額股息提供資金。儘管如此,聰明的投資者仍然知道,最好將股息與業務產生的現金和利潤相比進行評估。從長遠來看,用資產負債表上的現金支付股息是不可持續的。

While YHI International's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Were this to happen repeatedly, this would be a risk to YHI International's ability to maintain its dividend.

儘管YHI International的股息由該公司報告的利潤支付,但現金更爲重要,因此看到該公司沒有產生足夠的現金來支付股息,這並不是一件好事。如果這種情況反覆發生,這將危及YHI International維持分紅的能力。

Click here to see how much of its profit YHI International paid out over the last 12 months.

點擊此處查看YHI International在過去12個月中支付了多少利潤。

historic-dividend
SGX:BPF Historic Dividend May 1st 2023
新加坡交易所:BPF 2023 年 5 月 1 日曆史股息

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. Fortunately for readers, YHI International's earnings per share have been growing at 19% a year for the past five years. Earnings have been growing at a decent rate, but we're concerned dividend payments consumed most of the company's cash flow over the past year.

增長前景強勁的企業通常是最好的股息支付者,因爲每股收益改善時更容易增加股息。如果收益下降而公司被迫削減股息,投資者可能會眼睜睜看着他們的投資價值煙消雲散。對於讀者來說,幸運的是,在過去五年中,YHI International的每股收益一直以每年19%的速度增長。收益一直以不錯的速度增長,但我們擔心股息支付消耗了公司在過去一年中的大部分現金流。

Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. YHI International has delivered an average of 3.7% per year annual increase in its dividend, based on the past 10 years of dividend payments. It's good to see both earnings and the dividend have improved - although the former has been rising much quicker than the latter, possibly due to the company reinvesting more of its profits in growth.

許多投資者將通過評估股息支付隨着時間的推移發生了多大變化來評估公司的股息表現。根據過去10年的股息支付,YHI International的股息平均每年增長3.7%。很高興看到收益和股息都有所改善——儘管前者的增長速度比後者快得多,這可能是由於該公司將更多的利潤再投資於增長。

The Bottom Line

底線

From a dividend perspective, should investors buy or avoid YHI International? Earnings per share growth is a positive, and the company's payout ratio looks normal. However, we note YHI International paid out a much higher percentage of its free cash flow, which makes us uncomfortable. In summary, it's hard to get excited about YHI International from a dividend perspective.

從股息的角度來看,投資者應該買入還是避免 YHI International?每股收益增長爲正數,該公司的派息率看起來正常。但是,我們注意到YHI International支付的自由現金流比例要高得多,這讓我們感到不舒服。總而言之,從股息的角度來看,很難對YHI International感到興奮。

If you want to look further into YHI International, it's worth knowing the risks this business faces. Our analysis shows 1 warning sign for YHI International and you should be aware of this before buying any shares.

如果您想進一步研究YHI International,則值得了解該業務面臨的風險。我們的分析顯示 YHI 國際 1 個警告信號 在購買任何股票之前,您應該意識到這一點。

If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.

如果您在市場上尋找實力雄厚的股息支付者,我們建議 查看我們精選的頂級股息股票。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.

對這篇文章有反饋嗎?擔心內容嗎? 取得聯繫 直接和我們在一起。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St 的這篇文章本質上是籠統的。 我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。 它不構成買入或賣出任何股票的建議,也沒有考慮您的目標或財務狀況。我們的目標是爲您提供由基本面數據驅動的長期重點分析。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。簡而言之,華爾街在上述任何股票中都沒有頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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