Jardine Strategic Holdings Ltd. : JDSHF-US: Dividend Analysis : August 25th, 2017 (record date) : By the numbers : September 20, 2017

Our analysis is based on comparing Jardine Strategic Holdings Ltd. with the following peers – General Electric Company, Jardine Matheson Holdings Limited Sponsored ADR, Sumitomo Corporation Sponsored ADR, China Auto Logistics, Inc., Imperial Holdings Limited Sponsored ADR, ABB Ltd. Sponsored ADR and Grupo Carso SAB de CV Class A1 (GE-US, JMHLY-US, SSUMY-US, CALI-US, IHLDY-US, ABB-US and GCARSOA1-MX).

Jardine Strategic Holdings Ltd.’s dividend yield is 0.66 percent and its dividend payout is 6.42 percent. This compares to a peer average dividend yield of 2.56 percent and a payout level of 21.44 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 92 out of a possible score of 100 looks sustainable.

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 4 were high quality and 1 was medium quality.
  • The ending cash balance, with a dividend coverage of 16.40x, 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 June 30, 2017), JDSHF-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 12.32x), investing cash flow (coverage of -8.54x), issuance cash flow (coverage of -0.94x) and twelve-month prior cash (coverage of 14.76x), for a total dividend coverage of 17.40x.

JDSHF-US’s issuance cash flow includes outflows from net share buybacks (coverage of -0.15x). Thus, the total coverage including share buybacks is 17.55x, which reflects our assumption that the cash paid for share buybacks is discretionary and could instead be used to pay dividends.

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 (%) 1.15 1.38 1.37 1.85 1.64 0.66
Dividend Payout (%) 13.74 15.76 15.39 15.29 11.57 8.4

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

Company Profile

Jardine Strategic Holdings Ltd. operates as an investment holding company, which engages in the business of engineering and construction, transport services, insurance broking, property investment and development, retailing, restaurants, luxury hotels, motor vehicles and related activities, financial services, heavy equipment, mining and agribusiness. The company operates through the following segments: Jardine Matheson, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage, and Astra. The Jardine Matheson segment provides engineering and construction, transport services and information technology services through Jardine Pacific; sales and service of motor vehicles through Jardine Motors; and insurance & reinsurance broking, risk management and employee benefit services through Jardine Lloyd Thompson. The Hongkong Land segment engages in the property investment, management and development. The Dairy Farm segment operates supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishings stores and restaurants. The Mandarin Oriental segment engages in the hotel investment and management business and residences & resort destinations around the world. The Jardine Cycle & Carriage segment engages in the sale and service of motor vehicles and related activities with operations in Southeast Asia. The Astra segment provides automobile and motorcycle products. Jardine Strategic Holdings was founded on November 18, 1986 and is headquartered in Hamilton, Bermuda.


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