Kweichow Moutai ’s special bonus will be redeemed soon!
On the evening of December 20, Kweichow Moutai announced that special dividends for shareholders will be implemented in 2022. The equity registration date is December 26, the ex-rights (dividend) date, and the cash dividend payment date are December 27. A cash dividend of RMB 21.91 per share (tax included) was distributed, with a total cash dividend of RMB 27.523 billion.
It took one month for the dividend to be paid
On the evening of November 28, Kweichow Moutai announced a special dividend plan to reward shareholders. On December 14, the company's shareholders meeting reviewed and approved the above plan, and then announced the implementation announcement on December 20. The implementation of the special dividend plan lasted less than one month.
Kweichow Moutai will distribute a cash dividend of 21.91 yuan (tax included) to all shareholders per share. This special dividend plan is the first in the history of Kweichow Moutai's development. Guotai Junan released a research report stating that since 2015, Moutai’s cash dividend ratio has exceeded 50%. If the mid-year dividend of 27.228 billion yuan is taken into account this time, Kweichow Moutai's full-year dividend in 2022 will reach 54.751 billion yuan, accounting for 104.37% of the net profit in 2021.
Investors have different attitudes towards this dividend plan. Some investors said that Kweichow Moutai's share price fell by 58 yuan today, which is equivalent to the market ex-rights, and a dividend of more than 21 yuan per share would not make much waves in the fluctuations of high-priced stocks.
However, some investors said that the dividend of more than 21 yuan per share is quite large, and one hand can get more than 2,000 yuan.
Kweichow Moutai reminds investors that investors who have completed designated transactions can receive cash dividends at their designated securities business department on the dividend distribution day. Shareholder dividends that have not undergone designated transactions will be temporarily kept by China Securities Clearing Company Shanghai Branch and will be distributed after designated transactions are completed.
Regarding the purpose of special dividends, Kweichow Moutai stated that the first is the need for the company's sustainable, stable and healthy development; the second is to increase cash dividends and boost market confidence on the premise of ensuring that the company's normal operations and long-term development are not affected; the third is to actively reward shareholders, share the company's development dividends with shareholders, and enhance the shareholders' sense of gain.
The second company to distribute special cash dividends this year
This is the first time in history that Kweichow Moutai has distributed special cash dividends. It is also the second listed company to distribute special cash dividends this year.
On April 29 this year, CNOOC also announced the implementation of special dividends. The company plans to distribute a special cash dividend of HK$1.18 per share (tax included) to all shareholders. Dividends for A-share shareholders will be paid in RMB, with a cash dividend of HK$1.00699 per share (tax included). CNOOC announced at the time that the dividends paid included the 2021 final dividend and the special dividend for the 20th anniversary of Hong Kong listing. Public information shows that on the A-share market, listed companies such as Xinhua Insurance, China Ping An, China Pacific Insurance, China Shenhua, and Baiyunshan have also distributed special cash dividends.
Analysts pointed out that in the history of A-share listed companies, state-owned enterprises and central-level enterprises have mainly distributed special cash dividends. Kweichow Moutai’s generous distribution of special cash dividends has set a benchmark for listed companies. It is not ruled out that other state-owned enterprises and central-level enterprises will also make similar moves to increase dividend ratios.
How to judge the cash dividend ability of listed companies? The Shanghai Stock Exchange previously issued a public statement stating that although the cash flow indicators in regular reports do not fully represent the amount of cash available to listed companies when paying dividends, it is generally understood that a company's ability to pay dividends still depends on the quality of its operations and its disposable cash flow . Therefore, cash flow indicators should not be directly used as a rigid quantitative indicator to judge a company's ability to pay dividends, but it can be used as an important reference indicator and a side confirmation of a listed company's ability to pay dividends.
Securities Regulatory Commission Chairman Yi Huiman said that from 2017 to 2021, cash dividends from listed companies in my country exceeded 6 trillion yuan. In the next step of deepening the reform of the capital market, it is still necessary to further enhance the value creation capabilities of listed companies, enhance the professional capabilities of industry institutions, and achieve positive mutual promotion between the development of the real economy, the improvement of the quality of listed companies, and the growth of investor returns.
Editor: Yawenhui
