Core Viewpoint - The A-share market is witnessing a significant increase in cash dividends, driven by new policies, with total dividends expected to reach nearly 2.4 trillion yuan in 2024, marking a historical high [2][4]. Summary by Category Dividend Trends - The total dividend amount for A-share listed companies has exceeded 2 trillion yuan for three consecutive years, with an overall increase of over 108% in the past seven years [3][4]. - In 2024, 3,751 companies announced or implemented cash dividend plans, with an average payout ratio of 37.78%, and 1,277 companies having a payout ratio exceeding 50% [2][4]. Policy Impact - The policies characterized by "mandatory constraints + market incentives" have significantly enhanced the initiative and enthusiasm of A-share companies towards cash dividends [3][8]. - The China Securities Regulatory Commission emphasizes improving the investment value of listed companies, encouraging them to implement multiple dividends per year [8]. Industry Performance - Key industries such as banking, oil and petrochemicals, food and beverage, and telecommunications maintain high dividend payouts, with major companies like ICBC, CCB, and China Mobile each distributing over 100 billion yuan in dividends [6]. - Nearly 1,000 state-owned enterprises collectively distributed 1.5 trillion yuan in dividends in 2024, accounting for 62.5% of the total market dividends [6]. Changes in Dividend Distribution - The shift from passive to active dividend distribution is evident, with 966 companies announcing mid-year dividends totaling 689.58 billion yuan, representing significant growth compared to the previous year [8]. - Companies are increasingly integrating dividend policies into their strategic planning, which is expected to enhance corporate governance [8].
A股公司2024年分红2.4万亿创历史新高 平均股利支付率37.78%主动性显著提升
Chang Jiang Shang Bao·2025-05-12 00:34