Mei Ri Jing Ji Xin Wen·2026-01-13 12:30Core Viewpoint - The number of A-share listed banks implementing mid-term dividends is increasing, with several banks announcing their dividend plans for 2025, reflecting a commitment to shareholder returns and financial stability [1][4]. Group 1: Dividend Announcements - China Merchants Bank announced a cash dividend of approximately RMB 20.897 billion (including tax) for the first half of 2025, with a per-share dividend of RMB 1.013 (including tax) [1][2]. - As of now, over half of the 42 A-share listed banks have disclosed their mid-term dividend plans for 2025, with three banks, including China Merchants Bank, Postal Savings Bank, and Jiangsu Bank, announcing dividends this week [1][2][4]. - Postal Savings Bank distributed a cash dividend of RMB 0.123 per share (including tax) on January 12, 2026, while Jiangsu Bank announced a cash dividend of RMB 0.3309 per share (including tax) on January 14, 2026 [2]. Group 2: Regulatory Environment - The Chinese government has introduced guidelines to enhance cash dividend regulations for listed companies, encouraging multiple dividend distributions within a year and promoting higher dividend yields [3][4]. Group 3: Industry Trends - The mid-term dividend distribution among A-share listed banks has been growing, with 23 banks confirming their mid-term profit distribution plans for 2025, some of which are initiating mid-term dividends for the first time [4]. - Analysts note that the increase in the number of banks planning mid-term dividends and the stability of dividend rates indicate the banking sector's robust dividend value, which is attractive to long-term investors [5]. Group 4: Market Conditions - Despite a strong overall performance in 2025, many listed banks remain in a state of net asset value decline, primarily due to concerns over net interest margins and asset quality amid economic pressures [6]. - The average dividend yield for bank stocks is above 3%, with most banks expected to maintain a dividend yield of over 2% for their mid-term dividends in 2025 [6].