（文章来源：深圳商报） ...

Core Viewpoint - The trend of cash dividends among listed companies in China is increasing, with a total cash dividend amount of 2.4 trillion yuan for the year 2024, representing a 9% increase from 2023 [1] Group 1: Cash Dividend Data - In 2024, 2.4 trillion yuan was distributed as cash dividends by listed companies, marking a 9% increase from 2023 [1] - Among 4,445 listed companies that have been publicly traded for over three years, 2,447 companies have continuously paid cash dividends for the past three years, a 12% increase from 2023 [1] - Among 3,569 listed companies that have been publicly traded for over five years, 1,681 companies have continuously paid cash dividends for the past five years, a 6% increase from 2023, with 210 companies showing continuous growth in dividends over the past five years [1] Group 2: Policy Influence - The new "National Nine Articles" emphasizes strengthening the regulation of cash dividends, which has led to increased awareness and action among listed companies regarding dividend payments [2] - The China Securities Regulatory Commission (CSRC) has issued opinions to enhance cash dividend regulation and improve investor returns, encouraging companies to develop and disclose medium- to long-term dividend plans [2] - The revision of listing rules by the Shanghai and Shenzhen Stock Exchanges introduces risk warnings for companies that fail to meet cash dividend standards, creating stronger incentives for companies to return value to investors [2] Group 3: Internal Motivations for Dividends - Companies are increasingly motivated to provide dividends as a reflection of their strong performance and growth potential, with regular dividends serving as a demonstration of operational success [3] - Stable dividends attract long-term investors seeking consistent returns, with data indicating that funds are more likely to hold shares in companies that pay dividends multiple times a year [3] - There are 466 listed companies with an average dividend yield exceeding 3% over the past three years, and 133 companies with an average yield exceeding 5%, attracting global investment [3] Group 4: Considerations for Dividends - Companies must balance dividend payments with their profitability, capital expenditure, and debt repayment capabilities, ensuring that high dividend payouts do not compromise financial health [4] - Regulatory bodies will closely monitor companies with high debt ratios and poor cash flow that still opt for significant cash dividends [4]

Group 1 - The total cash dividends of A-share listed companies in 2024 reached 2.4 trillion yuan, an increase of 9% compared to 2023, marking a new historical high for overall dividend levels [1] - The top ten companies in the 2025 cash dividend ranking include six financial institutions: Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, China Merchants Bank, and Ping An Insurance, along with three energy state-owned enterprises: China Petroleum, China Shenhua, and China Petroleum & Chemical Corporation, and one liquor company: Kweichow Moutai [1] Group 2 - The number of companies with continuous cash dividends has been increasing year by year, with 2,447 out of 4,445 A-share listed companies that have been listed for over three years having continuous dividends, a 12% increase from 2023 [2] - Among the 3,569 A-share listed companies that have been listed for over five years, 1,681 have had continuous dividends over the past five years, a 6% increase from 2023, with 210 companies showing continuous growth in dividends [2] - The increasing trend in cash dividends reflects the growing internal drive of listed companies to distribute dividends, creating predictable cash flow returns for investors and promoting higher quality development in the capital market [2]

Core Insights - The China Listed Companies Association released the 2025 cash dividend ranking, highlighting the increasing trend of cash dividends among listed companies, which enhances investor returns and promotes higher quality development in the capital market [1][2] Group 1: Cash Dividend Rankings - The ranking includes three lists based on total cash dividends, dividend payout ratios, and dividend yields, each featuring 100 companies [1] - The ranking emphasizes compliance and integrity, disqualifying companies with illegal activities or abnormal dividend behaviors [1] Group 2: Dividend Trends - In 2024, the total cash dividends from A-share listed companies reached a record high of 2.4 trillion yuan, a 9% increase from 2023 [2] - The number of companies consistently paying dividends has increased, with 2,447 out of 4,445 companies listed for over three years having paid dividends for three consecutive years, a 12% increase from 2023 [2] Group 3: Dividend Yield and Payout Ratios - A total of 466 companies had an average dividend yield exceeding 3% over the past three years, with 133 companies exceeding 5% [3] - The average dividend payout ratio for A-share listed companies in 2024 was 39%, with 1,411 companies having a payout ratio greater than 40%, a 24% increase from 2023 [3]

Core Viewpoint - China Resources Sanjiu's stock price is currently at 31.66 yuan, reflecting a slight increase of 0.03 yuan from the previous trading day, indicating a stable market performance [1] Company Overview - The company specializes in the research, production, and sales of pharmaceutical products, including prescription drugs, OTC drugs, and health products [1] - As a significant player in the pharmaceutical industry, China Resources Sanjiu has been included in the latest cash dividend ranking list for listed companies in China, which evaluates companies based on dividend amount and ratio, emphasizing continuity and stability of dividends [1] Market Performance - The stock reached a high of 31.82 yuan and a low of 31.51 yuan during the trading session, with a trading volume of 90,049 lots and a total transaction value of 285 million yuan [1]

Core Viewpoint - The introduction of new policies such as the "National Nine Articles" and cash dividend regulations has led to a significant shift in China's capital market towards a focus on investor returns, marking a new phase of "return-oriented" practices among listed companies [1][2]. Summary by Categories Cash Dividend Trends - The total cash dividends distributed by A-share listed companies in 2024 reached a historical high of 2.4 trillion yuan, representing a 9% increase from 2023 [3]. - In 2024, nine companies distributed over 50 billion yuan in cash dividends, with 33 companies exceeding 10 billion yuan, and 61 companies surpassing 5 billion yuan [3]. Dividend Continuity and Stability - The number of companies maintaining continuous dividends has increased, with 2,447 out of 4,445 companies listed for over three years having distributed dividends for three consecutive years, a 12% increase from 2023 [3]. - Among 3,569 companies listed for over five years, 1,681 have maintained dividends for five consecutive years, a 6% increase from the previous year, with 210 companies showing continuous growth in dividends [3]. Shareholder Returns and Yield - A total of 466 companies have an average dividend yield exceeding 3% over the past three years, with 133 companies yielding over 5%. The average dividend yield for companies on the dividend yield list is 6.73%, significantly higher than the bond yields of some economies [4]. - The average dividend payout ratio for A-share listed companies in 2024 is 39%, with 1,411 companies having an average payout ratio greater than 40%, a 24% increase from 2023 [4]. Evaluation Criteria for Dividend Rankings - The 2025 cash dividend rankings are based on objective data, considering total cash dividends, payout ratios, and dividend yields, with a focus on compliance and continuous dividend practices [2][9]. - Companies with non-compliance or irregular dividend behaviors are excluded from the rankings, emphasizing the importance of integrity and stability in dividend distribution [2].

Group 1 - The total cash dividends for A-share listed companies in 2024 is projected to reach 2.4 trillion yuan, representing a 9% increase compared to 2023 [2][4] - The introduction of new policies, such as the "National Nine Articles" and new cash dividend regulations, has led to a shift in the capital market towards a focus on investor returns [2][3] - The China Listed Companies Association has released a cash dividend ranking for 2025, emphasizing compliance, dividend continuity, and a multi-dimensional evaluation of companies [3] Group 2 - A record number of companies are expected to distribute cash dividends, with 9 companies projected to exceed 50 billion yuan in dividends and 33 companies exceeding 100 billion yuan [4] - The number of companies with continuous dividends has increased, with 2,447 out of 4,445 companies listed for over three years having paid dividends continuously for the past three years, a 12% increase from 2023 [4] - The average dividend payout ratio for A-share listed companies is 39%, with 1,411 companies maintaining an average payout ratio above 40% over the past five years, a 24% increase from 2023 [5]

中新社北京8月8日电 (记者陈康亮)根据中国上市公司协会(下称中上协)8日披露的数据，2024年度沪深A 股上市公司现金分红总额为2.4万亿元(人民币，下同)，较2023年度增加9%。 中上协有关负责人表示，从沪深A股上市公司的总体分红数据来看，2024年度上市公司分红意识不断增 强，用"真金白银"积极回报投资者。 当天，中上协发布2025年上市公司现金分红榜单。该榜单以现金分红数据为基础，综合考量多维因素， 最终形成现金分红总额、股利支付率、股息率三个榜单，每个榜单100家公司。其中，中国工商银行、 东阿阿胶、中远海控分别占据现金分红总额榜单、股利支付率榜单、股息率榜单的榜首。 该负责人进一步表示，上市公司现金分红总额再创历史新高，整体分红水平稳中有升。2024年度沪深A 股上市公司现金分红总额为2.4万亿元，较2023年度增加9%。有9家上市公司2024年度现金分红金额超 过500亿元。 上市公司持续为投资者创造可预期的收益，股债利差创近年来新高。沪深A股有466家上市公司近三年 平均股息率超过3%，有133家近三年平均股息率超过5%，股息率榜单公司近三年平均股息率为6.73%。 (完) （文章来源：中国 ...

星标 ★ IPO日报 精彩文章第一时间推送 近年来，在新"国九条"和现金分红新规等政策的引导下，提高投资者回报已经成为上市公司的"必修课"，我国资本市场进入"重回报"的新 阶段，塑造共建共享的资本市场新生态。 2025年上市公司现金分红榜单以现金分红客观数据为基础，综合考量多维因素，最终形成现金分红总额、股利支付率、股息率三个榜单， 每个榜单100家公司。 一是强调诚信合规底线 ， 将违法违规、资本市场诚信、审计意见等作为前置条件，将异常分红行为纳入负面调整因素，对不合规的公 司"一票否决"。 二是注重分红连续性、稳定性。 榜单对分红数据进行三到五年的长周期评价，并增加多年连续分红、分红连续增长等前 置条件，鼓励公司连续分红、稳定分红、多次分红，与投资者共享公司长期发展带来的收益和回报。 三是注重多维度评价 。 榜单综合考 量上市公司分红金额和分红比例，将绝对指标和相对指标相结合，发挥对不同规模、不同发展阶段上市公司的激励作用，鼓励上市公司培 育分红习惯，提升投资者获得感。 从沪深A股上市公司的总体分红数据来看，各项政策的牵引带动和市场引导作用明显，2024年度上市公司分红意识不断增强，用"真金白 银"积极回 ...

2025.08.08 本文字数：1255，阅读时长大约3分钟 据中国上市公司协会网站，近年来，在新"国九条"和现金分红新规等政策的引导下，提高投资者回报已 经成为上市公司的"必修课"，我国资本市场进入"重回报"的新阶段，塑造共建共享的资本市场新生态。 为引导上市公司树立回报投资者的理念，增强分红意识，中国上市公司协会结合现金分红规则要求，编 制发布2025年上市公司现金分红榜单。 2025年上市公司现金分红榜单以现金分红客观数据为基础，综合考量多维因素，最终形成现金分红总 额、股利支付率、股息率三个榜单（详见附件），每个榜单100家公司。一是强调诚信合规底线，将违 法违规、资本市场诚信、审计意见等作为前置条件，将异常分红行为纳入负面调整因素，对不合规的公 司"一票否决"。二是注重分红连续性、稳定性。榜单对分红数据进行三到五年的长周期评价，并增加多 年连续分红、分红连续增长等前置条件，鼓励公司连续分红、稳定分红、多次分红，与投资者共享公司 长期发展带来的收益和回报。三是注重多维度评价。榜单综合考量上市公司分红金额和分红比例，将绝 对指标和相对指标相结合，发挥对不同规模、不同发展阶段上市公司的激励作用，鼓励上市公 ...