Jin Rong Shi Bao·2025-09-02 04:04Core Viewpoint - The six major state-owned banks in China announced a total cash dividend of 204.657 billion yuan for the first half of 2025, reflecting strong financial performance and a commitment to shareholder returns [1] Group 1: Dividend Announcements - Industrial and Commercial Bank of China (ICBC) plans to distribute 1.414 yuan per share, totaling approximately 50.396 billion yuan, leading the dividend payouts among listed banks [1] - Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China have proposed interim dividend amounts of 41.823 billion yuan, 35.25 billion yuan, 48.605 billion yuan, 13.811 billion yuan, and 14.772 billion yuan respectively [1][2] - Postal Savings Bank has maintained a stable dividend payout ratio of 30% since 2018, with a total dividend exceeding 170 billion yuan since its H-share listing [2] Group 2: Market Performance and Investor Sentiment - As of August 29, 2025, the stock prices of major banks have shown significant fluctuations, with ICBC up 11.18% and Agricultural Bank up 37.37% year-to-date [3] - The overall market sentiment has improved due to favorable policies, shifting investor preference from defensive sectors to growth sectors [3][4] - Experts believe that the stable dividend policy reflects banks' confidence in their profitability and capital adequacy, which is expected to attract long-term investments [4] Group 3: Financial Health and Regulatory Environment - The capital adequacy ratio of the six major banks is generally above 13%, providing a safety net for dividend distributions [4] - Regulatory encouragement for banks to enhance dividend stability aims to create a predictable return for investors, particularly appealing to long-term funds like insurance and pension funds [4]