It looks like Quebecor Inc. (TSE:QBR.A) is about to go ex-dividend in the next 4 days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. This means that investors who purchase Quebecor's shares on or after the 22nd of November will not receive the dividend, which will be paid on the 17th of December.

The company's next dividend payment will be CA$0.325 per share. Last year, in total, the company distributed CA$1.30 to shareholders. Last year's total dividend payments show that Quebecor has a trailing yield of 4.1% on the current share price of CA$32.06. If you buy this business for its dividend, you should have an idea of whether Quebecor's dividend is reliable and sustainable. As a result, readers should always check whether Quebecor has been able to grow its dividends, or if the dividend might be cut.

Check out our latest analysis for Quebecor

Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. Fortunately Quebecor's payout ratio is modest, at just 41% of profit. A useful secondary check can be to evaluate whether Quebecor generated enough free cash flow to afford its dividend. Thankfully its dividend payments took up just 42% of the free cash flow it generated, which is a comfortable payout ratio.

It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.

Click here to see the company's payout ratio, plus analyst estimates of its future dividends.

Have Earnings And Dividends Been Growing?

Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If earnings fall far enough, the company could be forced to cut its dividend. For this reason, we're glad to see Quebecor's earnings per share have risen 13% per annum over the last five years. Earnings per share have been growing rapidly and the company is retaining a majority of its earnings within the business. Fast-growing businesses that are reinvesting heavily are enticing from a dividend perspective, especially since they can often increase the payout ratio later.