Four Days Left To Buy Kohl's Corporation (NYSE:KSS) Before The Ex-Dividend Date
Four Days Left To Buy Kohl's Corporation (NYSE:KSS) Before The Ex-Dividend Date
Kohl's Corporation (NYSE:KSS) stock is about to trade ex-dividend in four 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. 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 Kohl's' shares on or after the 11th of September, you won't be eligible to receive the dividend, when it is paid on the 25th of September.
科爾公司(NYSE:KSS)的股票將在四天後交易除息。通常,除息日是記錄日前的一個營業日,也就是公司確定有資格領取分紅的股東的日期。了解除息日非常重要,因爲任何對該股票的交易都需要在記錄日之前已經完成結算。因此,如果您在9月11日或之後購買科爾的股票,則將無法在9月25日支付股息時有資格領取分紅。
The company's next dividend payment will be US$0.50 per share. Last year, in total, the company distributed US$2.00 to shareholders. Based on the last year's worth of payments, Kohl's stock has a trailing yield of around 9.8% on the current share price of US$20.49. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. So we need to check whether the dividend payments are covered, and if earnings are growing.
該公司的下一個分紅將爲每股0.50美元。去年,公司總共向股東分發了2.00美元。根據去年的分紅金額,科爾的股票在當前每股價格20.49美元上的一年回報率約爲9.8%。對於長揸者來說,分紅是投資回報的主要貢獻者,但前提是分紅繼續支付。因此,我們需要檢查分紅支付是否得到覆蓋,並且利潤是否在增長。
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. It paid out 78% of its earnings as dividends last year, which is not unreasonable, but limits reinvestment in the business and leaves the dividend vulnerable to a business downturn. We'd be concerned if earnings began to decline. 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. Thankfully its dividend payments took up just 31% of the free cash flow it generated, which is a comfortable payout ratio.
通常,分紅是從公司盈利中支付的。如果公司支付的分紅超過其獲利金額,則該分紅可能是無法持續的。去年,科爾向股東支付了其盈利的78%作爲分紅,這並不算過度,但會限制業務再投資,並使分紅面臨業務下滑的風險。如果公司盈利開始下降,我們會感到擔憂。然而,現金流比利潤更重要,用於評估分紅。因此,我們需要查看公司是否產生足夠的現金來支付其分紅。令人欣慰的是,去年科爾的分紅支付僅佔其自由現金流的31%,這是一個舒適的派息比率。
It's positive to see that Kohl's'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.
科爾的分紅得到了盈利和現金流的支持,這通常意味着分紅是可持續的,而較低的派息比率通常意味着在削減分紅之前有更大的安全邊際。
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?
When earnings decline, dividend companies become much harder to analyse and own safely. 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 Kohl's's earnings per share have dropped 12% a year over the past five years. Such a sharp decline casts doubt on the future sustainability of the dividend.
當盈利下降時,股息公司變得更難以分析和安全擁有。如果企業進入低迷期且股息削減,公司的價值可能會急劇下跌。讀者將會理解,爲什麼我們對科爾的每股收益在過去五年中年均下降12%感到擔憂。如此大幅度的下降將對分紅的未來可持續性產生懷疑。
The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. In the past 10 years, Kohl's has increased its dividend at approximately 3.6% a year on average. 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. Kohl's 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.
大多數投資者評估公司股息前景的主要方式是查看股息增長的歷史率。在過去的十年中,科爾的股息年均增長約3.6%。當盈利縮水時,要支付更高的股息只有三種可能:支付更高比例的利潤、花去資產負債表中的現金,或者借錢。科爾已經支付了高比例的收入,因此在沒有盈利增長的情況下,我們對該股息未來的增長持懷疑態度。
Final Takeaway
最後的結論
Is Kohl's worth buying for its dividend? We're not enthused by the declining earnings per share, although at least the company's payout ratio is within a reasonable range, meaning it may not be at imminent risk of a dividend cut. Overall we're not hugely bearish on the stock, but there are likely better dividend investments out there.
科爾值得買入嗎?儘管每股收益下降讓我們不太熱衷,但至少該公司的派息比率在合理範圍內,這意味着股息削減的風險可能不是立刻發生。總的來說,我們對該股並不看淡,但可能還有更好的分紅投資選擇。
If you want to look further into Kohl's, it's worth knowing the risks this business faces. To that end, you should learn about the 2 warning signs we've spotted with Kohl's (including 1 which is concerning).
如果您想進一步了解科爾,了解該業務面臨的風險是很有價值的。爲此,您應該了解我們發現的2個警告信號中的1個(其中1個令人擔憂)。
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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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。
譯文內容由第三人軟體翻譯。