Companhia de Gas de paid a total dividend of 331 million BRL last year, for a market capitalization of 1,303 millions.
Dividend per share of Companhia de Gas de is 11.82 BRL, and his stock market price 46.55 BRL.
According to the chart, where dividend yield is displayed, Companhia de Gas de has a dividend yield of 25.39%, which is higher than the amount offered by both the market average and companies from Brazil. It is also bigger than average of Utilities industry. This high dividend yield might be a sign to worry about the future of the company so deeper analysis is needed.
About the ability of Companhia de Gas de to maintain his current dividend of BRL 11.82 per share, an amount that accounts for 25.39%, we should study its payout ratio both on earnings and on cash-flows (see chart below). Companhia de Gas de payout on ernings is currently 134.62%, which is higher than the market average, and companies of Utilities industry, which are 40.24% and 49.39% respectively. Both figures show that Companhia de Gas de can have problems to keep with his present dividend yield.
The payout on earnings should be complemented with the payout on cash flow since it is this latter amount the one which can be distributed to shareholders. Cash flow per share of Companhia de Gas de is BRL 16.05 per share, which is higher than the dividend per share paid by the company of BRL 11.82, so the company generates enough cash to maintain his dividend in the future.
The following figure shows payout ratios over earnings and cashflow of Companhia de Gas de, compared againt world market average, Brazil companies, Utilities industry and Gas Water and Multiutilities sector companies. You might also need to check full financial report of Companhia de Gas de.
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