上市券商分红密集落地，35家年内分红两次以上，近90亿红利待兑现

Core Viewpoint - The new "National Nine Articles" released in 2024 emphasizes strengthening the regulation of listed companies' dividends, enhancing the stability, continuity, and predictability of dividends, and promoting multiple dividends within a year, pre-dividends, and dividends before the Spring Festival [1] Group 1: Dividend Distribution - Several listed securities firms have announced profit distribution plans, marking the implementation phase of a new round of dividend payouts [1] - Changcheng Securities announced a cash dividend of 0.76 yuan per 10 shares, totaling 307 million yuan, with the payment date set for December 19 [1] - Industrial Securities plans to distribute a cash dividend of 0.05 yuan per share, totaling 432 million yuan, with the payment date on December 18 [1] - 35 out of 44 listed securities firms have distributed dividends two times or more within the year, with Xibu Securities having implemented three dividends totaling 446 million yuan [1] Group 2: Dividend Scale - Leading securities firms dominate the dividend scale, with Guotai Junan leading at 7.581 billion yuan in total cash dividends for the year [2] - Huatai Securities, China Merchants Securities, and CITIC Securities follow with 4.694 billion yuan, 4.313 billion yuan, and 4.150 billion yuan respectively [2] - Notable performances from smaller firms include Dongfang Securities and Dongwu Securities, with dividends of 1.869 billion yuan and 1.863 billion yuan respectively, placing them in the top ten of the industry [2] Group 3: Profitability and Future Dividends - Significant improvements in profitability support larger dividend distributions, with Guotai Junan, Shenwan Hongyuan, and Changjiang Securities reporting net profit growth rates exceeding 100% in the first three quarters of 2025 [4] - Approximately 9 billion yuan in dividends are still pending distribution, with Guoxin Securities planning to distribute 1 yuan per 10 shares, totaling 1.024 billion yuan, pending shareholder approval [4] - Other firms, including CITIC Securities and CITIC Jiantou, have mid-term profit distribution plans that have yet to be finalized [4]