白酒巨头，将分红20亿！

Core Viewpoint - Luzhou Laojiao, a company with a market value of over 100 billion, is set to implement a mid-term dividend plan totaling approximately 2 billion yuan (including tax), highlighting its financial stability and commitment to shareholder returns amidst industry challenges [2][4]. Group 1: Dividend Plans - The mid-term dividend plan involves a cash distribution of 13.58 yuan per 10 shares, based on a total share capital of 1.472 billion shares, with a total payout of around 2 billion yuan [2][4]. - Luzhou Laojiao's shareholder return plan states that annual dividends will not be less than 8.5 billion yuan for the years 2024-2026, with a minimum payout ratio of 65%, 70%, and 75% of net profit for those years respectively [4][10]. - In 2024, the company plans to distribute a total of approximately 8.759 billion yuan in dividends, exceeding the minimum target outlined in its shareholder return plan [4][10]. Group 2: Financial Performance - For the first three quarters of 2025, Luzhou Laojiao reported revenues of 23.127 billion yuan and a net profit of 10.762 billion yuan, reflecting year-on-year declines of 4.84% and 7.17% respectively [6]. - The overall white liquor market is experiencing pressure, with major companies like Luzhou Laojiao facing declining performance due to macroeconomic factors and high inventory levels [6][11]. Group 3: Industry Context - Other leading companies in the white liquor sector, such as Kweichow Moutai and Wuliangye, are also implementing mid-term dividend plans, indicating a trend among top firms to ensure shareholder returns despite market challenges [8][9]. - Kweichow Moutai's mid-term dividend for 2025 is set at 300.01 billion yuan, while Wuliangye plans to distribute 100.07 billion yuan, showcasing the competitive landscape in dividend payouts among leading brands [8][9].