Zheng Quan Ri Bao Wang·2025-09-01 14:06Core Viewpoint - The introduction of the new "National Nine Articles" has led to an increase in the frequency and stability of interim dividends among listed companies in the Shanghai market, with a record number of companies announcing dividend plans in 2025 [1][3]. Group 1: Dividend Trends - As of August 30, 2025, 406 companies in the Shanghai market have announced interim dividend plans, setting new records for both the number of companies and the total dividend amount [1]. - Nearly 60% of these companies have consistently paid interim dividends for two consecutive years, with 233 companies accounting for 58% of the total, distributing a combined dividend of 488.4 billion yuan, which is nearly 90% of this year's interim dividends [2][3]. - The average cash dividend payout ratio for the 2025 interim reports is approximately 57.42%, a significant increase from 40.95% in 2024 [6]. Group 2: High Dividend Companies - Among the 233 companies, 55 have announced dividends exceeding 500 million yuan, with 76% maintaining or increasing their dividend amounts compared to the previous period [4]. - Notable companies with substantial interim dividends include China Mobile, which plans to distribute over 54 billion yuan, and China Telecom, which announced a dividend of 16.581 billion yuan, reflecting an 8% year-on-year increase [3][8]. Group 3: New Entrants to Dividend Payments - Of the 406 companies, 173 are making interim dividend payments for the first time since the introduction of the new policy, indicating a broadening of the dividend distribution landscape [5]. - Companies like Haier Smart Home and WuXi AppTec have initiated interim dividends, with Haier distributing over 2.5 billion yuan, representing 20.83% of its net profit [5]. Group 4: Exceptional Dividend Ratios - Fourteen companies have reported dividend payout ratios exceeding 100%, with over half of the listed companies having payout ratios between 30% and 100% [7]. - For instance, Henan Siwei Automation Equipment Co., Ltd. plans to distribute 8.01 billion yuan, which is 263.77% of its net profit for the period [7].