alliance (WKN: 840400), Vonovia (WKN: A1ML7J) and fell man (WKN: 577220) have one thing in common: They pay dividends. I would go even further and say that they have business oriented quality. Whether it’s yield quality is one thing, there were cuts in some cases. But the rating is still high.
So let’s take a look at Allianz, Vonovia and Fielmann shares today. As well as the conditions that foolish investors should be aware of. In principle, the fundamental valuation is quite cheap due to falling stock prices.
Allianz: yield quality at a P / E close to 10
A first stock that we will take a closer look at today is Allianz. A relatively simple calculation of the dividend: With a distribution of EUR 10.80 and a share price of EUR 195.70, we get a dividend of 5.5%. An adjusted payout percentage of just over 50% and a history of more than ten years of consistent payouts is one thing for me: a notion of dividend quality. The dividend per. share has risen by more than 12% this year.
This dividend stock currently has a price-to-earnings ratio of just over 10 (adjusted for special effects). And with a price-to-book ratio of around 1. That’s a really cheap valuation for me, especially since Allianz’s management is talking about moderate growth and dividend growth until 2024.
Of course, the market environment is currently uncertain, which is not exactly easy for an insurance company. But the operating base seems to remain strong and cheap. Investors with a long-term perspective can also or especially look more closely at the ex-dividend date.
Vonovia: 4.6% yield!
Be honest: A rent yield of 4.6% without effort? In a figurative sense, this is what Vonovia shares are currently offering. Operationally, the foundation is housing, which is a defensive, timeless approach. Or a particular dividend quality that may arise from this dividend stock. Despite the de facto reduction in the amount distributed per. share by three euro cents compared to the previous year.
Vonovia expects moderate growth in the current financial year 2022. Funds from operations are expected to increase to EUR 2.1 billion, which should represent a solid and even diluted growth potential per share after trading with Deutsche Wohnen.
In this context, Vonovia’s management is talking about growing dividends in the future. With a price-FFO ratio of around 12, it is also a cheap valuation situation for me. Especially for long-term investors looking for solid dividend potential.
Fielmann: Company-oriented quality & dividend!
Fielmann is a stock that also has solid dividend quality at an attractive price. With an annual dividend of probably EUR 1.50 per share and a price level of EUR 47.82, the dividend yield is currently 3.13%. Such valuations are rarely seen in the defensive stock. Admittedly, it also suffered a bit during the corona pandemic and temporarily reduced the yield, among other things.
But let’s get to the rest of the valuation: Fielmann is visually not cheap compared to earnings per share. share in 2021 of 1.63 EUR with a price earnings of 29.3. The price-to-cash ratio, which is quoted at a value below 12, is already cheaper. Even though the truth lies somewhere in the middle: This is an interesting starting point for the defensive class in the market for less cyclical visual aids.
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Vincent owns shares in Allianz, Fielmann and Vonovia. The Motley Fool does not own any of the listed shares.