Core Viewpoint - The A-share market has seen a record-breaking cash dividend of 2.34 trillion yuan in 2024, marking a significant shift towards enhancing shareholder returns and reflecting a transformation in the investment ecosystem [1][2][10]. Group 1: Dividend Policy and Regulation - The new "National Nine Articles" issued in April 2024 strengthens the regulation of cash dividends for listed companies, encouraging higher dividend payouts and limiting major shareholders' sell-offs for companies with low or no dividends [2][5]. - The China Securities Regulatory Commission (CSRC) has also released guidelines to promote long-term dividend planning and increase the frequency of dividends, enhancing predictability and stability [2][10]. Group 2: Dividend Performance - A total of 3,720 listed companies distributed dividends in 2024, with the total cash dividend amounting to 2.34 trillion yuan, which is 46.32% of the total net profit of A-share companies for the year [2][10]. - The number of companies paying cash dividends has increased significantly from 2,572 in 2018 to 3,720 in 2024, indicating a growing trend towards regular dividend payments [4][10]. Group 3: Industry Insights - The banking sector led the dividend payouts in 2024, with a total of 631.54 billion yuan, representing 30.95% of the sector's net profit [6][10]. - Major companies such as Industrial and Commercial Bank of China, China Mobile, and China Petroleum each distributed over 100 billion yuan in dividends, showcasing the strong performance of these firms [6][7]. Group 4: Market Impact - The increase in dividends is expected to attract long-term investors, improve market liquidity, and shift focus from short-term speculation to long-term value investment [9][10]. - Regular and stable dividends signal good corporate governance and financial health, which can enhance investor confidence and lead to a concentration of market resources towards high-quality companies [11].

Core Viewpoint - The A-share market is witnessing a significant transformation towards a normalized cash dividend mechanism, with the total cash dividends for 2024 reaching a historical record of 2.34 trillion yuan, marking the third consecutive year above the 2 trillion yuan threshold [1][3][13]. Summary by Sections Policy Impact - The new "National Nine Articles" policy, issued in April 2024, emphasizes the regulation of cash dividends for listed companies, encouraging them to prioritize shareholder returns and enhancing the overall investment ecosystem in the A-share market [1][3]. - The policy includes measures to restrict major shareholders from reducing their holdings in companies that have not paid dividends for years or have low dividend ratios, while also incentivizing companies with high dividend payouts [3][6]. Dividend Statistics - As of now, 3,720 A-share companies have declared cash dividends for 2024, with the total amount reaching 2.34 trillion yuan, which constitutes 46.32% of the total net profit for the year, an increase of nearly 4 percentage points year-on-year [3][13]. - The number of companies paying cash dividends has increased significantly from 2,572 in 2018 to 3,720 in 2024 [5]. Industry Performance - The banking sector stands out with a total dividend payout of 631.54 billion yuan in 2024, accounting for 30.95% of the sector's net profit [8][10]. - Major companies such as Industrial and Commercial Bank of China, China Mobile, and China Construction Bank each distributed over 1 billion yuan in dividends [10]. Market Dynamics - The trend of regular dividends is expected to attract more long-term investors, enhancing market liquidity and stability, while also shifting focus from short-term speculation to long-term value investment [11][13]. - Companies that consistently pay dividends signal strong operational performance and profitability, which can boost investor confidence and market participation [13][14].

随着2024年年报发布收官，A股迎来"分红大年"。 同花顺数据显示，截至4月30日收盘，共有5365家A股上市公司披露2024年年报，其中3600余家公布分红预案，占公布年报企业总数近七成。 这场真金白银的"红包雨"，规模大、力度强、节奏稳，正在重构A股的价值锚点。 "万亿红包"谁在发？ "万亿红包"怎么发？ 南开大学金融发展研究院院长田利辉对三里河表示，A股市场分红呈现积极变化，行业龙头公司引领大手笔分红，新兴行业分红参与度提升，中小市值公 司表现亮眼。 "A股上市公司分红意愿持续提高。分红稳定性、持续性、可预期性明显增强。" 目前看来，有的上市公司还提前对未来分红做好安排，分红频次明显提高。如华力创通公告称，未来三年内，在当年盈利且累计未分配利润为正的情况 下，每年股东现金分红比例不少于可供分配利润的10%。 这一系列变化背后，释放出积极信号。 数据显示，2024年全年，A股上市公司累计现金分红超2.3万亿元(含季报、半年报、年报），创历史新高。这其中，银行稳居"分红主力军"。 42家上市银行全年累计分红超6000亿元。食品饮料、石油石化行业以千亿分红规模紧随其后。 从企业层面看，工商银行1097亿元的大 ...

2024年度现金分红总额前10名 2024年度股息率前10名 截至日期：4月29日21时 数据来源：Wind 高志刚 制表 郭晨凯 制图 ◎记者 高志刚 在新"国九条"等政策引导下，A股市场已形成常态化分红机制，2024年度现金分红规模再次创出历史新 高。 Wind数据显示，截至4月29日21时，共有5304家A股上市公司发布2024年年报，其中3600余家披露现金 分红方案，占已发布年报公司总数的近七成，年度现金分红合计金额高达2.3万亿元（含当年季报、半 年报、年报现金分红，下同），这一数字不仅刷新历史纪录，更实现连续三年站上2万亿元关口。 从企业类型看，央企、地方国企、民企"同台共舞"，通过提升分红金额和比例，积极回馈股东。大盘蓝 筹公司更是常年保持超百亿元分红，成为A股市场现金分红的"中流砥柱"。 | 公司简称 | 2024年度累计 分红总额(亿元) | 公司简称 | 2024年度 股息率(%) | | --- | --- | --- | --- | | 工商银行 | 1097.73 | 美盈衰 | 16.13 | | 中国移动 | 1007.89 | 东方雨虹 | 13.81 | | 建设银行 | ...

从个股看，贵州茅台、宁德时代、比亚迪、爱美客、吉比特、同花顺、慧翰股份、东鹏饮料、中国 移动、中国神华、华特达因、华利集团等公司每股股利较高。 1156家公司拟现金分红 在发布2024年度分红计划的1156家上市公司中，每股股利有望超过0.1元的上市公司有841家，超过 0.5元的有191家，超过1元的有68家。 Wind数据显示，截至目前，A股共有1156家上市公司拟进行2024年度现金分红，合计拟分红金额高 达1.13万亿元。其中，每股股利有望超过0.1元的上市公司有841家，占比高达72.75%。 其中，贵州茅台以每10股派发现金红利276.24元，暂居首位。 部分上市公司发布2024年度分红计划的同时，还提前对2025年中期分红做了规划和安排。 宁德时代表示，公司在2025年度进行中期分红时，分红金额不超过当期归属于上市公司股东净利润 的15%。此前，宁德时代宣布2024年度现金分红及特别现金分红合计总额为199.76亿元，公司计划向全 体股东每10股派发现金分红45.53元（含税）。 22家公司拟分红总额超百亿元 从拟分红总额看，超过10亿元的有138家上市公司，超过30亿元的有55家，超过100亿 ...