CLP Holdings Ltd. : CLPHY-US: Dividend Analysis : September 05th, 2017 (record date) : By the numbers : September 26, 2017

Our analysis is based on comparing CLP Holdings Ltd. with the following peers – Huaneng Power International, Inc. Sponsored ADR Class N, SCANA Corporation, CEZ as Sponsored GDR 144A, ENGIE Brasil Energia S.A. Sponsored ADR, Korea Electric Power Corporation Sponsored ADR, National Grid plc Sponsored ADR, Datang International Power Generation Co., Ltd. Sponsored ADR Class H, Canadian Utilities Limited Class A and Huadian Power International Corp. Ltd. Unsponsored ADR Class H (HNP-US, SCG-US, CEZZY-US, EGIEY-US, KEP-US, NGG-US, DIPGY-US, CU-CA and HPIFY-US).

CLP Holdings Ltd.’s dividend yield is 2.93 percent and its dividend payout is 45.34 percent. This compares to a peer average dividend yield of 4.87 percent and a payout level of 59.92 percent. This relatively lagging dividend performance could spur some dividend action going forward – except the company’s current dividend quality score of 50 out of a possible score of 100 is only about average.

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 low quality.
  • The ending cash balance is less than the last full year dividend payment and cannot be relied on to cushion any 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), CLPHY-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 3.33x), investing cash flow (coverage of -1.44x), issuance cash flow (coverage of -0.74x) and twelve-month prior cash (coverage of 0.76x), for a total dividend coverage of 1.97x.

CLPHY-US’s issuance cash flow includes outflows from net debt repayment (coverage of -0.60x).

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 (%) 3.74 4.19 3.87 4.02 3.87 2.93
Dividend Payout (%) 73.81 107.15 58.54 42.76 54.86 54.85

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

Company Profile

CLP Holdings Ltd. operates as an investment company, which engages in the generation and supply of electricity. Its business assets and services include coal, natural gas, nuclear, pumped storage, wind, hydro, solar, transmission & distribution network, customer services and others. It operates through the followings segments: Hong Kong, Mainland China, India, Southeast Asia and Taiwan, and Australia. The company was founded on October 24, 1997 and is headquartered in Hong Kong.


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