罕见！股东提议三季度分红，青农商行董事会“驳回”

Core Viewpoint - Qingdao Rural Commercial Bank's board rejected a proposal for a third-quarter cash dividend submitted by shareholder Tongfayu, indicating a lack of support for mid-year dividends in the banking sector [1][2][6]. Group 1: Dividend Proposal Details - The proposal requested Qingdao Rural Commercial Bank to implement cash dividends for three consecutive years from 2025 to 2027, with a minimum payout of 30% of the third-quarter net profit [4]. - The proposal was submitted by Tongfayu on behalf of three private equity funds and 11 individual shareholders, although Tongfayu was not among the top ten shareholders as of the first quarter [3][5]. Group 2: Reasons for Dividend Proposal - The proposal was based on three main reasons: the bank's improved business scale and profitability, the need for a stable dividend policy to enhance investor confidence, and regulatory encouragement for increased cash dividends [5]. - The board's decision not to submit the proposal was attributed to regulatory violations, including the requirement for mid-year dividend authorization to be approved at the annual shareholders' meeting [7]. Group 3: Bank's Financial Performance - Qingdao Rural Commercial Bank's financial performance showed a decline in revenue and net profit in 2022, but it has since experienced double-digit growth in net profit for two consecutive years [8]. - In 2024, the bank reported revenue of 11.033 billion yuan, a year-on-year increase of 6.85%, and a net profit of 2.856 billion yuan, up 11.24% [8]. - The bank's non-performing loan ratio was 1.79% in 2024, which, despite a decline over three years, remains high compared to peers, impacting its ability to distribute dividends [8]. Group 4: Industry Context - The practice of third-quarter dividends is rare in the banking industry, with most banks typically announcing dividends during annual reports [9]. - Regulatory changes have encouraged banks to increase dividend frequency, with 23 out of 42 A-share listed banks announcing mid-term dividend plans, totaling over 250 billion yuan in cash distributions [9]. - Historical examples include Chongqing Bank and Shanghai Rural Commercial Bank, which have implemented third-quarter dividends in the past [10].