An In-depth Look into the Dividend History, Yield, and Sustainability of COHEN & STEERS TAX-ADV PRD SEC AND INC
COHEN & STEERS TAX-ADV PRD SEC AND INC (PTA, Financial) recently announced a dividend of $0.13 per share, payable on 2023-09-29, with the ex-dividend date set for 2023-09-12. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's deep dive into COHEN & STEERS TAX-ADV PRD SEC AND INCs dividend performance and assess its sustainability.
Overview of COHEN & STEERS TAX-ADV PRD SEC AND INC
COHEN & STEERS TAX-ADV PRD SEC AND INC is a non-diversified, closed-end management statutory trust. Its primary investment objective is high current income, and the Fund's secondary investment objective is capital appreciation.
COHEN & STEERS TAX-ADV PRD SEC AND INC's Dividend History
COHEN & STEERS TAX-ADV PRD SEC AND INC has maintained a consistent dividend payment record since 2021. Dividends are currently distributed on a monthly basis.
Below is a chart showing annual Dividends Per Share for tracking historical trends.
Understanding COHEN & STEERS TAX-ADV PRD SEC AND INC's Dividend Yield and Growth
As of today, COHEN & STEERS TAX-ADV PRD SEC AND INC currently has a 12-month trailing dividend yield of 8.92% and a 12-month forward dividend yield of 9.03%. This suggests an expectation of increased dividend payments over the next 12 months.
Based on COHEN & STEERS TAX-ADV PRD SEC AND INC's dividend yield and five-year growth rate, the 5-year yield on cost of COHEN & STEERS TAX-ADV PRD SEC AND INC stock as of today is approximately 8.92%.
Evaluating Dividend Sustainability: Payout Ratio and Profitability
To assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-04-30, COHEN & STEERS TAX-ADV PRD SEC AND INC's dividend payout ratio is 0.00.
COHEN & STEERS TAX-ADV PRD SEC AND INC's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks COHEN & STEERS TAX-ADV PRD SEC AND INC's profitability 2 out of 10 as of 2023-04-30, suggesting the dividend may not be sustainable. The company has reported net profit in 1 year out of the past 10 years.
Future Prospects: Growth Metrics
To ensure the sustainability of dividends, a company must have robust growth metrics. COHEN & STEERS TAX-ADV PRD SEC AND INC's growth rank of 2 out of 10 suggests that the company has poor growth prospects and thus, the dividend may not be sustainable.
Conclusion
While COHEN & STEERS TAX-ADV PRD SEC AND INC boasts a commendable dividend yield, its low profitability and growth rankings raise questions about the sustainability of its dividends in the long run. Therefore, investors should consider these factors along with the company's dividend history, growth rate, and payout ratio before making investment decisions.
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