Our analysis is based on comparing Beijing Capital International Airport Co., Ltd. with the following peers – Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR Class B, Grupo Aeroportuario del Sureste SA de CV Sponsored ADR Class B, Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR Class B and JetBlue Airways Corporation (OMAB-US, ASR-US, PAC-US and JBLU-US).
Beijing Capital International Airport Co., Ltd.’s dividend yield is 1.17 percent and its dividend payout is 29.21 percent. This compares to a peer average dividend yield of 2.28 percent and a payout level of 46.11 percent. This relatively lagging dividend performance could spur some dividend action going forward – as long as the company’s relatively strong dividend quality score of 83 out of a possible score of 100 looks sustainable.
Dividend Quality Overview
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 3 were high quality, 1 was medium quality and 1 was low quality.
- The ending cash balance, with a dividend coverage of 6.38x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
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Over the last twelve months (prior to December 31, 2016), BJCHY-US paid a high quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 6.26x), investing cash flow (coverage of -0.26x), issuance cash flow (coverage of -1.44x) and twelve-month prior cash (coverage of 3.19x), for a total dividend coverage of 7.38x.
BJCHY-US‘s issuance cash flow includes outflows from net debt repayment (coverage of -1.52x).
These coverage ratio factors imply that the firm’s dividends are wholly paid from operating and investing cash flows net of any debt repayments, which suggests a high dividend quality.
|Dividend Yield (%)||5.07||5.51||5.72||4.71||5.37||1.17|
|Dividend Payout (%)||37.45||37.44||38.29||36.64||38.18||38.17|
A complete list of metrics and analysis is available on the company page.
Beijing Capital International Airport Co., Ltd. is engaged in the operation and management of the airport. It operates through two businesses: Aeronautical and Non-aeronautical. The Aeronautical business consists of aircraft landings and takeoffs, passenger service facilities, ground support, fire fighting and rescue services for domestic and foreign air transportation enterprises. The Non-aeronautical business includes ground handling agent services; duty free, retail shops, and restaurant operations; advertising spaces and property leasing, and car parking services. The company was founded in 1958 and is headquartered in Beijing, China.
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