To The Moon

摘要：机构认为，当前互联网公司仍然有长期投资价值，目前处于筑底阶段，前期在市场大幅冲击调整后，“好生意”、“好模式”的“优等生”即互联网代表性企业值得关注。经历了史诗级的深V反弹行情后，中概互联网近期

Oversea-Chinese Banking Corporation Limited's$OVERSEA-CHINESE BANKING CORP(O39.SI)$ dividend will be increasing to S$0.28 on 20th of May. This makes the dividend yield about the same as the industry average at 4.5%. We like a dividend to be consistent over the long term, so checking whether it is sustainable is important. Before making this announcement, Oversea-Chinese Banking was earning enough to cover the dividend, but it wasn't generating any free cash flows. In general, we consider cash flow to be more important than earnings, so we would be cautious about relying on the sustainability of this dividend. Over the next year, EPS is forecast to expand by 12.4%. If the dividend continues along recent trends, we estimate the payout ratio will be 4