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Max Co., Ltd.'s dividend payments are well-supported by earnings, with a payout ratio of 45.7%, and cash flows, maintaining a cash payout ratio of 52.2%. Despite offering a reliable dividend yield of 3.07%, it falls short compared to the top quartile in Japan's market. The company has consistently grown its dividends over the past decade and plans to enhance shareholder returns through a ¥2.4 billion share buyback program while undertaking a ¥4.14 billion equity offering for capital efficiency improvements.

• Delve into the full analysis dividend report here for a deeper understanding of Max.

• Our comprehensive valuation report raises the possibility that Max is priced higher than what may be justified by its financials.

Cosel

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Cosel Co., Ltd. manufactures and sells electrical components and EMI filters both in Japan and internationally, with a market cap of ¥43.89 billion.

Operations: Cosel Co., Ltd.'s revenue is primarily derived from its Japan Production and Sales Business at ¥26.73 billion, followed by the Europe Production and Sales Business at ¥6.73 billion, Asian Sales Business at ¥2.89 billion, North American Sales Business at ¥2.53 billion, and China Production Business at ¥2.51 billion.

Dividend Yield: 5.2%

Cosel Co., Ltd. offers a dividend yield of 5.25%, placing it in the top tier of Japanese dividend payers, yet its high payout ratio of 102% suggests dividends are not well-covered by earnings. Recent guidance indicates an annual dividend increase to JPY 55 per share for fiscal year ending May 2025, but past volatility and unreliable payments raise sustainability concerns. Despite these challenges, cash flows reasonably cover dividends with a cash payout ratio of 65.2%.

• Unlock comprehensive insights into our analysis of Cosel stock in this dividend report.

• Insights from our recent valuation report point to the potential overvaluation of Cosel shares in the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include SET:S&J TSE:6454 and TSE:6905.

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