3.9%！茅台股息率史上首次超过农行

Group 1 - The core viewpoint is that Kweichow Moutai is transitioning from a growth stock to a high-yield value investment, with its dividend yield historically surpassing that of Agricultural Bank of China, indicating a shift in market focus towards high-yield assets beyond traditional bank stocks [1][5] - Kweichow Moutai's expected net dividend yield has reached 3.9%, while Agricultural Bank's yield is at 3.7%, marking the first time Moutai's yield has exceeded that of the bank [1] - Moutai's stock price has declined approximately 5% this year due to weak demand for high-end liquor, contrasting with Agricultural Bank's stock price, which has surged over 30% in the same period, leading to a dilution of its dividend yield [1][5] Group 2 - The increase in Moutai's dividend yield is primarily due to its declining stock price and stable dividend policy, enhancing its appeal to income-focused investors [5] - Moutai's revenue for the first half of the year was 89.39 billion yuan, a year-on-year increase of 9.1%, while net profit attributable to shareholders was 45.4 billion yuan, up 8.89% [5] - The decline in Agricultural Bank's dividend yield may prompt dividend-focused traders to consider Kweichow Moutai and other overlooked consumer staple companies, such as Luzhou Laojiao [5]