突破2万亿元！深市分红从“红利潮”迈向“常态化”

Core Viewpoint - The article discusses the normalization of cash dividends among listed companies in the Shenzhen market, highlighting the government's push for improved corporate governance and increased shareholder returns through cash dividends and buybacks [2]. Group 1: Cash Dividend Trends - In 2025, cash dividends from Shenzhen-listed companies exceeded 540 billion yuan, with cumulative dividends surpassing 2 trillion yuan during the 14th Five-Year Plan period, establishing a virtuous cycle of financing, development, and returns [2]. - The mid-year cash dividends in 2025 reached 138.09 billion yuan, marking a nearly 30% year-on-year increase, indicating a shift towards more frequent and predictable returns for investors [4]. Group 2: Institutional Empowerment - The regulatory environment has evolved from a "periodic surge" to a "systematic norm," with companies increasingly adopting long-term dividend plans and enhancing transparency in their dividend policies [4]. - In 2024, 216 Shenzhen companies published shareholder dividend plans for 2024-2026, with an additional 165 companies announcing similar plans in 2025, reflecting a commitment to stable dividend signals [4]. Group 3: Expanding Dividend Payers - The number of companies consistently paying dividends has grown, with over 1,000 companies in Shenzhen maintaining cash dividends for three consecutive years, contributing to a stable investment return landscape [5]. - Notable companies like Midea Group and BYD are projected to distribute over 10 billion yuan in dividends for 2024, with Midea's dividends accounting for 69% of its net profit [5]. Group 4: Performance Underpinning Dividends - Strong financial performance supports the trend of cash dividends, as seen with Desay SV's proposal to distribute 1.25 yuan per share, totaling 742 million yuan, which represents 30.25% of its net profit for 2025 [7]. - Companies are increasingly sharing operational success with shareholders through high dividend payouts, as demonstrated by Shanjin International's plan to distribute 4.8 yuan per share, amounting to 1.33 billion yuan, which is 44.82% of its net profit [7].