以下是用于监测（持有）。美国和欧洲零售商看到股息支付略有下降，为3%。它们正在进行回购，这应该会提高股息支付。如果你预期4%的股息率，你需要股价在二十多倍高位，如果你想要安全边际，你需要它在二十多倍低位，才能实现10%的收益率。
现在，市场定价的是股息永久增长6%，预期支付3%，这有点多了。所以，我会把它放在这里：股息和回购，稳定回报6-7%。不过，要记住这只股票的长期风险。
The following is for monitoring (Hold). American and European retailers saw a slight decrease in dividend payouts of 3%. They are carrying out buybacks that should increase dividend payouts.
If you're expecting a 4% dividend yield, you need it in the high twenties, and if you want a safety margin, you need it in the low twenties to achieve a 10% yield. Now, what's being priced is 6% forever growth in dividends, with an expected payout of 3%, which is a bit much.
So, I'll put it here: dividends and repurchase, stable returns of 6-7%. However, keep in mind the long-term risks of the stock.