Dividend Yield Calculator
Work out a stock's dividend yield from the annual dividend per share and the share price.
輸入資料
計算結果
重點速覽：Dividend yield = annual dividend per share / share price x 100%. It measures the annual cash return from dividends at the current price. Example: HK$2 dividend at HK$50 price = 4%. The yield rises when the price falls and falls when the price rises. WARNING: A very high yield may be a 'dividend trap' if driven by a price crash; dividends are not guaranteed; Hong Kong dividends are generally not taxed, but check the company's policy and profitability. Always pair with the payout ratio and earnings stability.
計算公式
股息收益率 = 年度每股股息 ÷ 每股股價 × 100%。
$$\text{Dividend Yield} = \dfrac{\text{Annual Dividend Per Share}}{\text{Share Price}} \times 100\%$$使用說明
- Enter the total annual dividend per share.
- Enter the current share price.
- View the dividend yield at the current price.
以年度每股股息固定為 HK$2 為例，股價由 HK$25 升至 HK$80 時的股息收益率變化，說明股價越高、收益率越低。
| 年度每股股息 (HK$) | 每股股價 (HK$) | 股息收益率 | 說明 |
|---|---|---|---|
| 2.0 | 25 | 8.0% | 高收益 (或股價偏低) |
| 2.0 | 40 | 5.0% | 偏高 |
| 2.0 | 50 | 4.0% | 中等 |
| 2.0 | 80 | 2.5% | 偏低 (或股價偏高) |
理財情境案例
個案一：收益率隨股價變動
李女士以 HK$80 買入一隻港股，年度每股股息 HK$2，買入時股息收益率 = 2 ÷ 80 × 100% = 2.5%。
一年後公司經營穩健、股價升至 HK$200，若股息維持 HK$2，此時新買入者的收益率降至 1%（2 ÷ 200）。但對李女士而言，她的『成本收益率』仍以買入價 80 計算，仍是 2.5%。這說明報價的股息收益率是以現價計算，會隨股價升跌浮動;衡量自己的實際回報，應以個人買入成本計算。
個案二：慎防高收益率的價值陷阱
一隻港股股價由 HK$50 暴跌至 HK$25，若市場仍以舊有股息 HK$2 計算，收益率會由 4% 飆升至 8%，看似非常吸引。
然而股價暴跌往往反映公司基本面轉差 (盈利下滑、行業逆風)，未來很可能『減息』甚至『停息』，屆時實際收到的股息遠低於 8%。這正是『價值陷阱』：高收益率不是天上掉餡餅，而是市場對其風險的定價。評估收息股務必檢視派息比率是否可持續、盈利與現金流是否穩定，而非單純追逐最高收益率。
常見問題
Is a higher dividend yield always better?
Not necessarily. A high yield can be good (stable payer) or a warning. If the yield is high only because the price crashed, it may reflect doubt about the payout's sustainability — a 'dividend trap'. Look beyond yield at payout ratio, earnings and cash flow.
How is dividend yield different from payout ratio?
Yield is dividend / price (investor's return at the current price); payout ratio is dividend / net profit (how much of earnings is paid out). Yield tells you the return; payout ratio tells you if it is sustainable. A 8% yield with a 120% payout is hard to sustain.
Are Hong Kong stock dividends taxed?
Hong Kong generally does not levy a dividend tax or withholding on locally received dividends, and does not tax individuals on share price gains — a feature of Hong Kong's simple tax regime. But overseas holdings (e.g. US, A-shares) may be subject to foreign withholding, and trading as a business may attract profits tax. Seek professional advice for your case.
相關工具
參考資料
內容審核：香港計算器財經團隊。計算邏輯與公式參考香港金融管理局（HKMA）及投資者及理財教育委員會（IFEC）之個人理財計算指引，結果僅供參考，實際以相關機構公佈為準。