Our analysis is based on comparing Companhia Paranaense de Energia with the following peers – Centrais Eletricas Brasileiras S.A. – Eletrobras Sponsored ADR Pfd Class B, CPFL Energia S.A. Sponsored ADR, Companhia Energetica de Minas Gerais SA Sponsored ADR Pfd, AES Corporation, EDP – Energias de Portugal SA Sponsored ADR, Edenor SA Sponsored ADR Class B, Enersis Americas S.A. Sponsored ADR, Gerdau S.A. Sponsored ADR Pfd, Petroleo Brasileiro SA Sponsored ADR and Korea Electric Power Corporation Sponsored ADR (EBRBY-US, CPL-US, CIG-US, AES-US, EDPFY-US, EDN-US, ENIA-US, GGB-US, PBR-US and KEP-US).
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 medium quality and 2 were low quality.
- The ending cash balance, with a dividend coverage of 4.33x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to March 31, 2016), ELP-US paid a medium 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 3.84x), investing cash flow (coverage of -6.25x), issuance cash flow (coverage of 3.51x) and twelve-month prior cash (coverage of 4.56x), for a total dividend coverage of 5.33x.
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||8.96||5.85||16.2||16.83||12.22||3.18|
|Dividend Payout (%)||34.65||32.07||55.15||55.47||25.78||39.17|
A complete list of metrics and analysis is available on the company page.
Companhia Paranaense de Energia engages in the generation, transmission, distribution and sale of electricity. The company also provides telecommunications and other services. It operates its business through the following segments: Power Generation and Transmission, Power distribution and Sales, Telecommunications, Gas and Holding Company. The Power Generation and Transmission segment comprises the generation of electric energy from hydraulic, wind, and thermal projects, the transport and transformation of the power generated by the company, and the construction, operation, and maintenance of all power transmission substations and lines. The Power Distribution and Sales segment comprises the distribution and sale of electric energy, the operation and maintenance of the distribution infrastructure, and related services. The Telecommunications segment comprises telecommunications and general communications services. The Gas segment comprises the public service of piped natural gas distribution. The Holding Company segment comprises participation in other companies. Companhia Paranaense de Energia was founded on October 26, 1954 and is headquartered in Curitiba, Brazil.
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