上市券商年终分红豪掷387亿元39家连续三年派发“红包”

Core Viewpoint - The 2024 annual report season has concluded, and listed securities firms are planning to distribute over 38 billion yuan in year-end dividends, indicating a trend towards stable shareholder returns [1][2]. Group 1: Dividend Distribution Overview - A total of 40 listed securities firms have disclosed their 2024 year-end dividend plans, with a combined cash dividend of 38.74 billion yuan, a decrease of nearly 1.9 billion yuan compared to 2023 [2]. - Despite the decrease in total dividend amount, the overall cash dividends for 2024, including mid-year and special dividends, amount to approximately 53.7 billion yuan, which is an increase of 12.8 billion yuan compared to 2023 [2]. - Among the firms, 17 have a cash dividend ratio exceeding 40%, which is an increase from 2023, and 70% of firms maintain a cash dividend ratio of 30% or above [1][2]. Group 2: Performance and Dividend Ratios - 23 firms have a cash dividend ratio below 30%, while 17 firms exceed this threshold, with smaller firms generally showing higher dividend ratios [3]. - The top five firms by cash dividend ratio are Guolian Minsheng (80%), Hongta Securities (64%), Southwest Securities (62%), Dongwu Securities (50%), and Caida Securities (47%) [3]. - Notably, Guolian Minsheng plans to distribute 3.18 billion yuan despite a 40.8% decline in net profit, indicating a commitment to shareholder returns [3]. Group 3: Trends in Dividend Policies - The trend of increasing dividend frequency is evident, with 33 firms planning to distribute cash dividends two or more times in 2024, compared to only one firm in 2023 [6]. - 39 firms have maintained a cumulative cash dividend ratio of at least 30% over the past three years, demonstrating a commitment to consistent shareholder returns [6]. - The average dividend yield among the 40 listed firms is 1.63%, with only a few firms exceeding a 3% yield, highlighting the need for better market value management [7].