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Dividend Investors: Don't Be Too Quick To Buy Genco Shipping & Trading Limited (NYSE:GNK) For Its Upcoming Dividend

Dividend Investors: Don't Be Too Quick To Buy Genco Shipping & Trading Limited (NYSE:GNK) For Its Upcoming Dividend

股息投資者:在即將到來的股息之前,不要太快買入Genco Shipping & Trading Limited (紐交所:GNK)
Simply Wall St ·  11/13 19:08

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 Genco Shipping & Trading Limited (NYSE:GNK) is about to go ex-dividend in just 4 days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. 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 Genco Shipping & Trading's shares before the 18th of November in order to be eligible for the dividend, which will be paid on the 25th of November.

一些投資者依賴分紅派息來增加他們的財富,如果你是這些分紅尋找者中的一員,你可能會對Genco Shipping & Trading Limited(紐交所:GNK)即將在4天后除息感到好奇。除息日期是在記錄日期的前一個營業日,記錄日期是股東在公司賬冊上顯示以獲得分紅派息的截止日期。除息日期很重要,因爲每當股票被買入或賣出時,交易至少需要兩個營業日才能結算。換句話說,投資者可以在11月18日之前購買Genco Shipping & Trading的股票,以便有資格獲得於11月25日支付的分紅派息。

The company's upcoming dividend is US$0.40 a share, following on from the last 12 months, when the company distributed a total of US$0.86 per share to shareholders. Based on the last year's worth of payments, Genco Shipping & Trading stock has a trailing yield of around 4.9% on the current share price of US$17.64. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to check whether the dividend payments are covered, and if earnings are growing.

該公司即將支付的分紅派息爲每股0.40美元,緊接着過去12個月內公司向股東分配了總計每股0.86美元的分紅派息。基於去年的支付情況,Genco Shipping & Trading的股票在當前股價17.64美元的基礎上,具有約4.9%的 trailing yield。分紅派息對許多股東來說是重要的收入來源,但企業的健康對維持這些分紅派息至關重要。所以我們需要檢查分紅派息是否有保障,以及收益是否在增長。

If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Last year Genco Shipping & Trading paid out 98% of its profits as dividends to shareholders, suggesting the dividend is not well covered by earnings. 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. Over the past year it paid out 136% of its free cash flow as dividends, which is uncomfortably 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.

如果一家公司分配給股東的分紅派息超過了其賺得的利潤,那麼分紅派息可能變得不可持續——這顯然不是理想的情況。去年,Genco Shipping & Trading將98%的利潤以分紅派息的形式分配給了股東,這表明該分紅派息並未受到盈利的很好保障。然而,現金流對於評估分紅派息來說比利潤更爲重要,因此我們需要查看公司是否產生了足夠的現金來支付其分配。過去一年中,它將136%的自由現金流以分紅派息的形式支付,這一比例令人不安。持續支付超過你所產生的現金極其困難,除非借款或動用公司現金,因此我們不禁要問公司如何爲這一支付水平辯護。

As Genco Shipping & Trading'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.

由於Genco Shipping & Trading的分紅既未能很好地覆蓋收益,也未能很好地覆蓋現金流,我們擔心這個分紅在長期內可能面臨風險。

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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NYSE:GNK Historic Dividend November 13th 2024
紐交所:GNk 歷史分紅 2024年11月13日

Have Earnings And Dividends Been Growing?

收益和股息一直在增長嗎?

Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. That's why it's comforting to see Genco Shipping & Trading's earnings have been skyrocketing, up 41% per annum for the past five years. Genco Shipping & Trading's dividend was not well covered by earnings, although at least its earnings per share are growing quickly. Fast-growing businesses normally need to reinvest most of their earnings in order to maintain growth, so we'd suspect that either earnings growth will slow or the dividend may not be increased for a while.

擁有持續增長每股收益的公司通常是最佳的分紅股票,因爲它們通常更容易增加每股分紅。投資者喜歡分紅,因此如果收益下降而分紅減少,預計股票會同時大幅拋售。這就是爲什麼看到Genco Shipping & Trading的收益在過去五年中每年增長41%令人放心。雖然Genco Shipping & Trading的分紅未能很好地覆蓋收益,但至少其每股收益正在快速增長。快速增長的企業通常需要將大部分收益再投資以維持增長,因此我們懷疑要麼收益增長會放緩,要麼分紅在一段時間內可能不會增加。

Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Genco Shipping & Trading has delivered an average of 4.2% per year annual increase in its dividend, based on the past five 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.

許多投資者會通過評估公司分紅派息的變化來衡量公司的分紅派息表現。根據過去五年的分紅派息,Genco Shipping & Trading的分紅派息平均每年增長4.2%。看到盈利和分紅派息都有所改善是好事——儘管前者的增長速度遠快於後者,可能是因爲公司將更多的利潤再投資於增長。

Final Takeaway

最後的結論

From a dividend perspective, should investors buy or avoid Genco Shipping & Trading? Earnings per share have been growing, despite the company paying out a concerningly high percentage of its earnings and cashflow. We struggle to see how a company paying out so much of its earnings and cash flow will be able to sustain its dividend in a downturn, or reinvest enough into its business to continue growing earnings without borrowing heavily. It's not the most attractive proposition from a dividend perspective, and we'd probably give this one a miss for now.

從分紅派息的角度來看,投資者應該買入還是避免Genco Shipping & Trading?儘管公司支付了令人擔憂的高百分比的盈利和現金流,每股收益仍在增長。我們很難看到一個支付了如此多盈利和現金流的公司如何能在低迷時期維持其分紅派息,或者再投資足夠的資金以繼續增長盈利而不大量借債。從分紅派息的角度來看,這不是最有吸引力的投資方案,我們可能暫時會選擇放棄。

Although, if you're still interested in Genco Shipping & Trading and want to know more, you'll find it very useful to know what risks this stock faces. Our analysis shows 2 warning signs for Genco Shipping & Trading that we strongly recommend you have a look at before investing in the company.

儘管如此,如果您仍然對Genco Shipping & Trading感興趣並想了解更多,了解該股票面臨的風險將非常有用。我們的分析顯示Genco Shipping & Trading有2個警告信號,我們強烈建議您在投資該公司之前先了解一下。

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股息支付者,我們建議查看我們的頂級股息股票選擇。

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.

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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。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對提及的任何股票都沒有持倉。

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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