QRCB(SZ:002958) 券商中国·2025-08-21 01:31Core Viewpoint - The proposal for a "third-quarter cash dividend" by shareholders of Qingnong Commercial Bank was not approved by the bank's board of directors, citing regulatory violations and a focus on long-term sustainable development [2][4]. Summary by Sections Shareholder Proposal - Shareholder Tongfayu proposed that Qingnong Commercial Bank implement a "third-quarter cash dividend" for the fiscal years 2025, 2026, and 2027, with a suggested payout ratio of no less than 30% of the net profit attributable to shareholders for each respective year [2][3]. - The proposal was backed by the assertion that the bank's business scale, profitability, and capital strength have improved, allowing for such dividends while meeting regulatory capital adequacy requirements [3]. Board's Decision - The board of directors decided not to submit the proposal for shareholder meeting consideration, stating that it violated regulations regarding mid-term dividends and the authority of the board [4]. - The board emphasized its responsibility to balance short-term shareholder interests with long-term sustainable growth, considering various factors such as external environment, development stage, operational performance, and regulatory policies when formulating profit distribution plans [4]. Dividend History - Since its listing in 2019, Qingnong Commercial Bank has implemented six cash dividends totaling approximately 4.278 billion yuan, with an average dividend payout ratio of about 21.19% [5]. - The dividend ratio for the fiscal year 2024 is set at 23.34%, amounting to a total of 667 million yuan [5]. Mergers and Acquisitions - Qingnong Commercial Bank's board recently approved the absorption and merger of three village banks, converting them into branch institutions to enhance financial service capabilities in regional economic development [6][7]. - The three village banks involved have total assets of approximately 3.798 billion yuan, 835 million yuan, and 799 million yuan, respectively [7]. Industry Context - The trend of merging smaller banks is seen as a way to enhance scale efficiency, optimize branch settings, reduce redundant infrastructure costs, and improve sustainable development and risk mitigation capabilities [8].