Jin Rong Jie·2025-08-26 23:09Core Viewpoint - The trend of mid-term dividends among listed companies is increasing, indicating a shift from sporadic occurrences to a regular practice in the market, with multiple dividends becoming the new norm [1][3]. Group 1: Increase in Mid-term Dividends - Over 20 listed companies have recently announced their first mid-term dividend plans, including Taihe Co., China Steel Tianyuan, and Yuchip Technology, with cash dividends per 10 shares of 2 yuan, 0.6 yuan, and 1 yuan respectively [3]. - Major companies like CRRC, Hengli Petrochemical, and Changan Automobile have also announced their first mid-term dividend plans, with CRRC planning to distribute 1.1 yuan per 10 shares, totaling 3.157 billion yuan [3][4]. - The cash dividend ratios for Taihe Co., China Steel Tianyuan, and Yuchip Technology are approximately 49%, 31%, and 19% respectively, reflecting a growing emphasis on shareholder returns [3]. Group 2: Record High Dividend Scale - Approximately 400 companies have disclosed mid-term dividend plans, with a total planned dividend amount of around 180 billion yuan, marking a historical high [4]. - Major companies such as China Mobile, China Telecom, and Sinopec have mid-term dividends exceeding 10 billion yuan, with amounts of 54 billion yuan, 16.581 billion yuan, and 10.67 billion yuan respectively [4]. - More than 60% of listed companies have mid-term dividends in the million yuan range, with banks showing a higher dividend ratio, as evidenced by Changshu Bank and Ping An Bank's announced dividend plans [4]. Group 3: Characteristics of Current Dividends - The current dividend landscape is characterized by high amounts, high ratios, and high frequencies, with 3,720 companies planning cash dividends totaling approximately 2.4 trillion yuan in 2024 [5]. - This figure not only sets a new historical record but also marks the third consecutive year exceeding 2 trillion yuan in total dividends [5]. - Many companies have indicated plans for stable and regular returns to investors, committing to annual profit distributions when conditions allow, including a certain proportion of cash dividends [5].