<p>股息股票可以为投资者提供可靠的被动收入，但找到合适的股票比你想象的要困难得多。这是因为超高股息收益率的股票看起来很有吸引力，但可能存在潜在问题。例如，如果一家公司经营不善，其股票大幅下跌，股息收益率会提高，但该公司仍可能面临削减股息的风险。</p>
<p>投资者分析公司的财务状况至关重要，确保公司能够继续产生足够的自由现金流和收益，不仅能够覆盖股息，还能每年增加股息。我发现有一家公司可能正在成为股息冠军，并可能在下个月宣布再次提高股息。</p>
<h2>业务蓬勃发展</h2>
<p>这是美国较大的移动运营商之一，<strong>T-Mobile</strong>（TMUS 1.77%）的业务一直在蓬勃发展。截至 8 月 14 日，投资者对该股票的奖励使其股价上涨超过 14%。</p>
<p>在第二季度，T-Mobile 报告的稀释每股收益为 2.84 美元，同比增长 14%。总收入增长近 7%。强劲的业绩得益于新客户的增长，包括新增后付费客户 170 万，这是公司历史上第二季度新增客户的最高记录，并且在行业中处于领先地位。该公司还新增了 454,000 个 5G 宽带客户，同比增长 12%，同样在行业中处于领先地位。</p>
<p>T-Mobile 的成功部分源于其作为 “非运营商” 的营销策略，这基本上意味着试图与传统运营商相反，消除隐藏费用，并不强迫客户签订更长期、更具限制性的合同。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkwODgvY2FzaC1waWMtZ2V0dHkuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkwODgvY2FzaC1waWMtZ2V0dHkuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>一个可能随着时间增长的新股息</h2>
<p>T-Mobile 是一家相对较新的股息公司，仅在 2023 年开始支付股息。季度股息起始为 0.65 美元，但管理层在 2024 年 9 月将其提高至 0.88 美元，增幅为 35%。这使得在当前股价下，年收益率为 1.40%，虽然不是高股息收益率，但对于一家支付股息不足两年的公司来说，起步迅速。</p>
<p>好消息是，股息目前看起来非常可持续，并且有增长的空间。该公司的过去 12 个月自由现金流收益率为 4.25%，派息比率接近 31%。换句话说，T-Mobile 在过去一年中支付了约 37.8 亿美元的股息。管理层预计今年的自由现金流在指导中值为 178 亿美元，足以覆盖股息支出。</p>
<p>另一次股息提高也可能即将到来。当公司在 2023 年底启动股息时，管理层表示他们的目标是每年增长 10%。该公司在 2024 年 9 月宣布了最后一次股息提高，这意味着根据我们有限的历史记录，下个月可能会有另一次提高。</p>
<h2>T-Mobile 是否正在成为股息冠军？</h2>
<p>股息冠军是指连续 25 年提高季度股息的公司。T-Mobile 起步良好，但显然还有很长的路要走，因此不能保证它会成为股息冠军。</p>
<p>存在一些风险，包括高负债。截至第二季度末，T-Mobile 的短期债务为 64 亿美元，长期债务超过 750 亿美元。同时，现金及现金等价物约为 103 亿美元。这部分债务的原因是 T-Mobile 近年来进行的所有收购，自 2021 年以来进行了八次收购。这无疑是投资者需要关注的事项。</p>
<p>然而，这些收购以及业务的势头已经转化为更高的收入和自由现金流增长。虽然我无法预测 T-Mobile 是否会在 23 年内成为股息冠军，但我喜欢目前股息的增长轨迹，并且肯定认为公司走在正确的道路上。</p>

TMUS

<p>T-Mobile 正在成为一个潜在的股息冠军，2023 年开始派发股息，并最近将其股息提高了 35%。该公司报告了强劲的第二季度业绩，稀释每股收益增长了 14%，收入增长近 7%，主要得益于客户数量的显著增加。T-Mobile 的派息比率为 31%，自由现金流收益率为 4.25%，这使其在未来的股息增长方面具备良好的基础。然而，投资者应对其高额债务保持谨慎，长期债务总额超过 750 亿美元，这源于自 2021 年以来的多次收购</p>

<p>Dividend stocks can be great ways for investors to generate reliable, passive income. But finding the right ones is more difficult than you might think. That's because stocks with ultra-high dividend yields may look appealing but have underlying issues. For instance, if a company struggles and its stock sinks significantly, the dividend yield will rise, but the company could still be at risk of a dividend cut.</p>
<div class="lb-trans"><p>股息股票可以为投资者提供可靠的被动收入，但找到合适的股票比你想象的要困难得多。这是因为超高股息收益率的股票看起来很有吸引力，但可能存在潜在问题。例如，如果一家公司经营不善，其股票大幅下跌，股息收益率会提高，但该公司仍可能面临削减股息的风险。</p>
</div><p>It's key for investors to analyze company financials and make sure the company can continue to generate enough free cash flow and earnings to not only cover the dividend but also increase the dividend annually. I've found one company could be a Dividend Champion in the making and may even announce another dividend hike next month.</p>
<div class="lb-trans"><p>投资者分析公司的财务状况至关重要，确保公司能够继续产生足够的自由现金流和收益，不仅能够覆盖股息，还能每年增加股息。我发现有一家公司可能正在成为股息冠军，并可能在下个月宣布再次提高股息。</p>
</div><h2>Business is thriving</h2>
<div class="lb-trans"><h2>业务蓬勃发展</h2>
</div><p>It's one of the larger mobile carriers in the U.S., and <strong>T-Mobile</strong>'s (TMUS 1.77%) business has been thriving. Investors have rewarded the stock, sending shares up over 14% this year as of Aug. 14.</p>
<div class="lb-trans"><p>这是美国较大的移动运营商之一，<strong>T-Mobile</strong>（TMUS 1.77%）的业务一直在蓬勃发展。截至 8 月 14 日，投资者对该股票的奖励使其股价上涨超过 14%。</p>
</div><p>For the second-quarter, T-Mobile reported diluted earnings per share of $2.84, up 14% year over year. Total revenue grew nearly 7%. The solid performance was driven by new customer growth, including postpaid net customer additions of 1.7 million, the company's highest second-quarter additions ever and industry leading, according to T-Mobile. The company also grew 5G broadband customers by 454,000, up 12% year over year and industry-leading growth as well.</p>
<div class="lb-trans"><p>在第二季度，T-Mobile 报告的稀释每股收益为 2.84 美元，同比增长 14%。总收入增长近 7%。强劲的业绩得益于新客户的增长，包括新增后付费客户 170 万，这是公司历史上第二季度新增客户的最高记录，并且在行业中处于领先地位。该公司还新增了 454,000 个 5G 宽带客户，同比增长 12%，同样在行业中处于领先地位。</p>
</div><p>T-Mobile's success in part stems from its marketing strategy of being the &#34;un-carrier,&#34; which essentially means trying to be the opposite of a traditional carrier by eliminating hidden fees and not forcing customers to sign longer-term, more prohibitive contracts.</p>
<div class="lb-trans"><p>T-Mobile 的成功部分源于其作为 “非运营商” 的营销策略，这基本上意味着试图与传统运营商相反，消除隐藏费用，并不强迫客户签订更长期、更具限制性的合同。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjkwODgvY2FzaC1waWMtZ2V0dHkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F829088%2Fcash-pic-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>A newer dividend that could grow over time</h2>
<div class="lb-trans"><h2>一个可能随着时间增长的新股息</h2>
</div><p>T-Mobile is a relatively new dividend company, having only initiated its dividend in 2023. The quarterly dividend started at $0.65, but management hiked it to $0.88 in September of 2024, representing a 35% increase. That puts the annual yield at 1.40% at the current stock price, which is not a high dividend yield, but a quick start for a company that's been paying a dividend for less than two years.</p>
<div class="lb-trans"><p>T-Mobile 是一家相对较新的股息公司，仅在 2023 年开始支付股息。季度股息起始为 0.65 美元，但管理层在 2024 年 9 月将其提高至 0.88 美元，增幅为 35%。这使得在当前股价下，年收益率为 1.40%，虽然不是高股息收益率，但对于一家支付股息不足两年的公司来说，起步迅速。</p>
</div><p>The good news is the dividend looks more than sustainable for now and there's room to grow it. The company has a trailing 12-month free cash flow yield of 4.25% and a payout ratio of nearly 31%. To put that in terms that are easier to understand, T-Mobile has paid out about $3.78 billion of dividends over the last year. Management is guiding for $17.8 billion of free cash flow this year at the midpoint of its guidance, plenty to cover the dividend payout.</p>
<div class="lb-trans"><p>好消息是，股息目前看起来非常可持续，并且有增长的空间。该公司的过去 12 个月自由现金流收益率为 4.25%，派息比率接近 31%。换句话说，T-Mobile 在过去一年中支付了约 37.8 亿美元的股息。管理层预计今年的自由现金流在指导中值为 178 亿美元，足以覆盖股息支出。</p>
</div><p>Another dividend hike could also be coming. When the company initiated the dividend at the end of 2023, management said their intent was to grow it 10% annually. The company declared its last dividend hike in September of 2024, meaning another hike could come next month based on the limited history we have.</p>
<div class="lb-trans"><p>另一次股息提高也可能即将到来。当公司在 2023 年底启动股息时，管理层表示他们的目标是每年增长 10%。该公司在 2024 年 9 月宣布了最后一次股息提高，这意味着根据我们有限的历史记录，下个月可能会有另一次提高。</p>
</div><h2>Is T-Mobile a Dividend Champion in the making?</h2>
<div class="lb-trans"><h2>T-Mobile 是否正在成为股息冠军？</h2>
</div><p>A Dividend Champion is a company that has raised its quarterly dividend for at least 25 straight years. T-Mobile is off to a good start but certainly has a long way to go, so it's no guarantee that it will become a Dividend Champion.</p>
<div class="lb-trans"><p>股息冠军是指连续 25 年提高季度股息的公司。T-Mobile 起步良好，但显然还有很长的路要走，因此不能保证它会成为股息冠军。</p>
</div><p>There are some risks including high debt. At the end of the second quarter, T-Mobile had $6.4 billion of short-term debt and over $75 billion of long-term debt. Meanwhile, cash and cash equivalents were roughly $10.3 billion. Part of the reason for this debt pile is due to all of the acquisitions T-Mobile has made in recent years, with eight acquisitions since 2021. This is certainly something for investors to keep an eye on.</p>
<div class="lb-trans"><p>存在一些风险，包括高负债。截至第二季度末，T-Mobile 的短期债务为 64 亿美元，长期债务超过 750 亿美元。同时，现金及现金等价物约为 103 亿美元。这部分债务的原因是 T-Mobile 近年来进行的所有收购，自 2021 年以来进行了八次收购。这无疑是投资者需要关注的事项。</p>
</div><p>However, the acquisitions as well as momentum in the business have translated into higher revenue and free-cash-flow growth. While I can't predict whether T-Mobile will become a Dividend Champion in 23 years, I like the trajectory of the dividend right now and certainly think the company is on the right path.</p>
<div class="lb-trans"><p>然而，这些收购以及业务的势头已经转化为更高的收入和自由现金流增长。虽然我无法预测 T-Mobile 是否会在 23 年内成为股息冠军，但我喜欢目前股息的增长轨迹，并且肯定认为公司走在正确的道路上。</p>
</div>

这家公司似乎正在成为股息冠军，并可能在下个月宣布再次提高股息