China Overseas Land & Investment Ltd. : CAOVY-US: Dividend Analysis : June 16th, 2017 (record date) : By the numbers : June 16, 2017

Our analysis is based on comparing China Overseas Land & Investment Ltd. with the following peers – Xinyuan Real Estate Co. Ltd. Sponsored ADR, Henderson Land Development Co. Ltd. Sponsored ADR, Boston Properties, Inc. and A V Homes Inc (XIN-US, HLDCY-US, BXP-US and AVHI-US).

China Overseas Land & Investment Ltd.’s dividend yield is 3.22 percent and its dividend payout is 20.40 percent. This compares to a peer median dividend yield of 3.03 percent and a payout level of 21.73 percent. This relatively higher dividend yield and lower payout ratio makes the company a good candidate for dividend investors looking seeking good current dividend income within this peer group. In addition, the company’s relatively good dividend quality score of 92 out of a possible score of 100, underscores its attractiveness for dividend investors.

Dividend Yield
Dividend Quality Score

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 and 2 were medium quality.
  • The ending cash balance, with a dividend coverage of 19.97x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to December 31, 2016), CAOVY-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 6.93x), investing cash flow (coverage of 1.33x), issuance cash flow (coverage of -1.82x) and twelve-month prior cash (coverage of 13.02x), for a total dividend coverage of 20.97x.

CAOVY-US‘s issuance cash flow includes outflows from net debt repayment (coverage of -1.91x).

Dividend Coverage by Cash Flow (TTM)

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 History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 1.6 1.93 3.06 2.02 3.49 3.22
Dividend Payout (%) 16.15 14.9 21.22 15.65 21.28 21.28

A complete list of metrics and analysis is available on the company page.

Company Profile

China Overseas Land & Investment Ltd. is an investment holding company, which engages in the provision of finance, treasury, and management services. The company operates its business through the following segments: Property Development, Property Investment, and Other Operations. The Property Development segment involves property development activities. The Property Investment segment offers property rentals. The Other Operations segment comprises of real estate agency and management services; and construction and building design consultancy services. The company was founded in 1979 and is headquartered in Hong Kong.

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