NO.PZ2023040402000042
问题如下：
Bob is the CFO of the HL Resources Ltd., analysing the dividend safety of the company. He gathers the following information with two comparable companies.
Which company has the lowest dividend sustainability?
选项：
A.
Comparable A
B.
Comparable B
C.
HL Resources
解释：
FCFE coverage ratio = FCFE/[Dividends + Share repurchases]
A ratio less than 1 is not sustainable because the company B is paying out more than it can afford by drawing down existing cash/marketable securities, thereby decreasing liquidity.
这个知识点在哪里讲的？
