14家上市券商，去年分红超377亿元！

Core Viewpoint - As of March 27, 14 listed securities firms have announced their annual cash dividend plans for 2025, with a total cash dividend amount exceeding 37.7 billion yuan [1]. Group 1: Dividend Plans and Ratios - The annual cash dividend ratio for listed securities firms generally exceeds 30%, with one firm distributing 80% of its net profit to shareholders [2]. - Most listed securities firms plan to conduct two dividend distributions in 2025, with Guotai Junan and CITIC Securities planning total dividends of 6.13 billion yuan and 6.076 billion yuan, respectively [4]. - The highest cash dividend ratio is from Hongta Securities at 81.3%, while other firms like Dongfang Securities and Industrial Securities also exceed 40% [6]. Group 2: Dividend Per Share - CITIC Securities has the highest annual cash dividend total at 10.374 billion yuan, marking the first time it exceeds 10 billion yuan [5]. - The cash dividend per share for major firms includes 0.449 yuan for CITIC Securities and 0.41 yuan for Guotai Junan, with the latter having a lower per-share dividend due to a higher total share capital [5]. Group 3: Future Dividend Policies - Hongta Securities plans to distribute at least 30% of its average distributable profits over the last three years in cash, with a commitment to maintain a stable profit distribution policy [5]. - Shenyin Wanguo has a lower cash dividend ratio of 28.97% due to its ongoing transformation and the need to retain profits for capital strength [6]. Group 4: Investment Value - From a dividend yield perspective, CITIC Securities and Dongfang Securities offer the most attractive yields at 3.71% and 3.51%, respectively [7].