Group 1 - The total cash dividends of listed companies in the Shanghai and Shenzhen A-shares reached 2.4 trillion yuan in 2024, a year-on-year increase of 9%, setting a new record [1] - Over 80 companies announced cash dividends after the 2025 semi-annual report, with proposed dividend amounts exceeding 100 billion yuan, indicating a trend of multiple dividends within a year [1] - While cash dividends are encouraged as a reasonable return method for investors, extreme practices such as "liquidation-style" or "extraction-style" dividends should be avoided to protect the sustainable development of companies [1] Group 2 - A specific company listed in February 2022 experienced a sharp decline in net profit over the following two years, yet continued to engage in "liquidation-style dividends," with a payout ratio of 185.71% in 2024, indicating potential profit extraction [2] - The major shareholder of this company, holding 55% of the shares, benefits significantly from cash dividends, raising concerns about the interests of minority investors [2] - The market must remain vigilant against "extraction-style dividends" to prevent major shareholders from undermining the interests of listed companies and public investors [2] Group 3 - It is essential to advocate for and regulate cash dividends of listed companies to prevent extreme practices that could harm interests [3] - Proposed regulations include prohibiting cash dividends for loss-making companies and limiting dividend payouts to 30% for companies with declining performance [3] - Companies with high debt ratios (over 50%) should also be restricted from high dividend payouts, and those raising funds should limit cash dividends to 30% within two years [3]
应禁止上市公司“掏空式分红”
Guo Ji Jin Rong Bao·2025-08-19 07:38