Since 2006, China Mobile's dividend payout ratio has risen by just one percentage point, to 43% of earnings.
自2006年以来,中国移动的股利支付比率只上升了一个百分点,至收益的43%。
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And shares that look cheap on conventional measures (asset value, dividend yield, price-earningsratio) also tend to deliver above-average returns, but belong to firms that are likelier to go bust.