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It Might Not Be A Great Idea To Buy UGI Corporation (NYSE:UGI) For Its Next Dividend

It Might Not Be A Great Idea To Buy UGI Corporation (NYSE:UGI) For Its Next Dividend

或許買入UGI Corporation(紐交所:UGI)以獲取下一個分紅並不是一個好主意
Simply Wall St ·  12/12 19:04

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that UGI Corporation (NYSE:UGI) is about to go ex-dividend in just 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 an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. This means that investors who purchase UGI's shares on or after the 16th of December will not receive the dividend, which will be paid on the 1st of January.

一些投資者依賴分紅來增長財富,如果你是那些分紅偵探中的一員,你可能會對UGI公司(紐交所:UGI)在僅三天後即將除息的消息感到興趣。除息日發生在記錄日的前一天,記錄日是股東需要在公司賬簿上才能收到分紅的日期。除息日是一個重要的日期,因爲在此日期及之後購買股票可能意味着交割延遲,不會顯示在記錄日上。這意味着,在12月16日或之後購買UGI股票的投資者將無法獲得將在1月1日支付的分紅。

The company's next dividend payment will be US$0.375 per share, and in the last 12 months, the company paid a total of US$1.50 per share. Looking at the last 12 months of distributions, UGI has a trailing yield of approximately 5.2% on its current stock price of US$28.64. If you buy this business for its dividend, you should have an idea of whether UGI's dividend is reliable and sustainable. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.

該公司的下一個分紅支付將爲每股0.375美元,在過去12個月中,公司總共支付了每股1.50美元。看過去12個月的分紅,UGI當前股票價格爲28.64美元,具有約5.2%的持續收益率。如果你是爲了分紅而購買這項業務,你應該了解UGI的分紅是否可靠和可持續。這就是爲什麼我們應該始終檢查分紅支付是否可持續,以及公司是否在增長。

Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. UGI paid out 118% of profit in the past year, which we think is typically not sustainable unless there are mitigating characteristics such as unusually strong cash flow or a large cash balance. 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 82% of its free cash flow as dividends, which is within usual limits but will limit the company's ability to lift the dividend if there's no growth.

分紅通常來自公司收入,因此如果一家公司支付的分紅超過其收益,則其分紅通常面臨更高的削減風險。UGI在過去一年中支付了118%的利潤,我們認爲這通常是不可持續的,除非存在減輕的特徵,比如異常強勁的現金流或大量的現金餘額。也就是說,即使是高度盈利的公司,有時也可能無法產生足夠的現金支付分紅,這就是我們應該始終檢查分紅是否由現金流覆蓋的原因。它支付了82%的自由現金流作爲分紅,這在通常範圍內,但如果沒有增長,將限制公司的分紅提升能力。

It's good to see that while UGI'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. Extraordinarily few companies are capable of persistently paying a dividend that is greater than their profits.

很高興看到UGI的分紅雖然未被利潤覆蓋,但至少從現金的角度來看是可承受的。然而,如果公司反覆支付超過其利潤的分紅,我們將會感到擔憂。極少數公司能夠持續支付超過其利潤的分紅。

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分紅支付比率,以及分析師對其未來分紅的估計。

big
NYSE:UGI Historic Dividend December 12th 2024
紐交所:UGI 歷史分紅 2024年12月12日

Have Earnings And Dividends Been Growing?

收益和股息一直在增長嗎?

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. So we're not too excited that UGI's earnings are down 2.7% a year over the past five years.

當收益下降時,分紅公司變得更加難以分析和安全持有。如果收益下降,公司被迫削減分紅,投資者可能會看到他們投資的價值化爲烏有。因此,我們對UGI過去五年收益下降2.7%並不感到太興奮。

Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. UGI has delivered an average of 7.1% per year annual increase in its dividend, based on the past 10 years of dividend payments. The only way to pay higher dividends when earnings are shrinking is either to pay out a larger percentage of profits, spend cash from the balance sheet, or borrow the money. UGI is already paying out 118% of its profits, and with shrinking earnings we think it's unlikely that this dividend will grow quickly in the future.

許多投資者將通過評估分紅支付隨時間變化的情況來評估公司的分紅表現。根據過去10年的分紅支付,UGI提供了平均每年7.1%的分紅增長。在收益縮水的情況下,支付更高分紅的唯一方法是支付更大比例的利潤,從資產負債表支出現金,或借錢。UGI已經支付了118%的利潤,考慮到收益下降,我們認爲未來這一分紅不太可能快速增長。

To Sum It Up

總結一下

Should investors buy UGI for the upcoming dividend? It's never fun to see a company's earnings per share in retreat. Additionally, UGI is paying out quite a high percentage of its earnings, and more than half its cash flow, so it's hard to evaluate whether the company is reinvesting enough in its business to improve its situation. Overall it doesn't look like the most suitable dividend stock for a long-term buy and hold investor.

投資者應該考慮買入UGI以獲取即將到來的分紅嗎?看到公司的每股收益下滑是很不愉快的。此外,UGI支付了相當高比例的收益,並且其現金流的一半以上,因此很難評估公司是否在其業務中進行足夠的再投資以改善其狀況。總體來看,這似乎不是一個適合長揸投資者的分紅股票。

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 UGI. For instance, we've identified 3 warning signs for UGI (1 can't be ignored) you should be aware of.

話雖如此,如果你在考慮這隻股票時並不太關注分紅,你仍然應該了解UGI所涉及的風險。例如,我們已發現UGI有3個警告信號(其中1個不能忽視),你應該意識到這些。

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分紅支付股票,我們建議你查看我們精選的頂級分紅股票。

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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall St的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。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在提到的任何股票中均沒有持倉。

譯文內容由第三人軟體翻譯。


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