Zhong Guo Jing Ying Bao·2026-02-05 14:49Core Viewpoint - The upcoming cash dividends from various companies, particularly banks, signify a growing trend of shareholder returns in the Shanghai Stock Exchange, with total dividends expected to exceed 3,476 billion yuan before the Spring Festival, reflecting an increase from the previous year's 3,000 billion yuan [1][2]. Group 1: Bank Dividends - Industrial Bank will distribute over 11.9 billion yuan in dividends to A-share investors before the Spring Festival, contributing to a total of 258 billion yuan in cash dividends from nearly 20 companies in the Shanghai market [1]. - Since January 2026, nine banks, including Industrial Bank, Postal Savings Bank, and China Merchants Bank, have announced a total of nearly 70 billion yuan in cash dividends for the first half of 2025 [1]. - China Merchants Bank will distribute a cash dividend of 1.013 yuan per share (including tax), with a total cash dividend of approximately 255.48 billion yuan, of which 208.97 billion yuan is for A-shares, reflecting a dividend payout ratio of 35% [2]. Group 2: High Dividend Companies - Yangtze Power will distribute over 5.1 billion yuan in dividends on February 12, 2026, maintaining a high dividend rate due to its quality hydropower assets and stable generation capacity [3]. - Yangtze Power has cumulatively distributed 97.69 billion yuan in cash dividends over the past five years, with its stock price rising from 16.03 yuan per share in January 2020 to 26.60 yuan per share by February 2026 [3]. - Darentang has distributed a total of 5.117 billion yuan in cash dividends since its listing in 2001, with an average dividend payout ratio of 50.69%, and will distribute 2.45 yuan per share (including tax) totaling 1.887 billion yuan on February 12, 2026 [3].