Forward dividend yields represent the amount of dividends that a company is expected to pay investors. This measure can be used as one of the indicators to evaluate a company's viability when investing. As dividend yields are forward-looking, they may provide investors with some insight into how reliable a company's future dividend payments may be.

A forward dividend yield is typically determined by first calculating the company's dividend payout ratio. This is the ratio of the sum of dividends paid out by the company over the last 12 months and the company’s total earnings per share for that same period. This number is then multiplied by the current stock price of the company, which gives an approximation of the expected dividend yield for that company.

One of the benefits of assessing the forward dividend yield as an indicator of a stock's value is that it can be used to compare the profitability of different stocks. The yield indicates the relative value of investable income that can be expected from the stock over time, and this can give investors an idea of how the stock will perform over time.

It is worth noting, however, that forward dividend yields can be very unpredictable. As the figure is based on expected future dividends and not actual earnings, the payout ratio can be distorted by any changes in the stock price. Additionally, a company's dividend can be subject to changes due to external or internal factors, or even decisions by the company’s board of directors. Despite this unpredictability, forward dividend yields remain a useful tool for investors looking to compare ex-dividend dates, dividend yields, and stock beta.

In summary, forward dividend yields are an important measure to consider when evaluating a company for potential investments. By calculating the forward dividend yield, investors can gain an insight into the expected return of a particular stock in the near future. Although the forward dividend yield is not always reliable, it can be useful as one of several indicators of potential future performance.