六大行分红，超2000亿元

Core Insights - The six major state-owned banks in China reported their 2025 interim financial results, showing a total operating income of 1.83 trillion yuan, a slight increase from approximately 1.8 trillion yuan in the same period last year, and a net profit attributable to shareholders of 682.52 billion yuan, down from about 683.39 billion yuan year-on-year [2][4]. Financial Performance - All six banks achieved year-on-year growth in operating income, with China Bank leading at 3.76%, followed by Construction Bank at 2.15% and Industrial and Commercial Bank at 1.57%. In contrast, last year, five of the six banks reported negative growth in operating income [4][6]. - In terms of net profit attributable to shareholders, three banks reported positive growth, with Agricultural Bank leading at 2.66%, followed by Transportation Bank at 1.61% and Postal Savings Bank at 0.85%. Last year, only Agricultural Bank had positive growth, while the others experienced declines [4][5]. Dividend Distribution - The six banks announced a mid-year dividend plan, distributing 30% of their net profit attributable to shareholders, totaling 204.66 billion yuan. This is comparable to last year's total of approximately 204.82 billion yuan [5][6]. - Specific dividend payouts include Industrial and Commercial Bank distributing approximately 50.40 billion yuan, Agricultural Bank 41.82 billion yuan, and Construction Bank 48.61 billion yuan, among others [5][7]. Stock Performance - As of August 29, the median dividend yield for the six banks exceeded 3%, with Industrial and Commercial Bank having the highest yield at around 4.15% and Construction Bank the lowest at 2.03%. Year-to-date stock performance varied, with Agricultural Bank leading with a 37.37% increase [6][7].