Well-known economist Song Qinghui pointed out that more and more listed companies are launching cash dividends instead of switching from to , which shows the role of regulatory authorities in guiding cash dividends. Measuring the dividend intensity of listed companies can be viewed from two aspects. From a company level, look at the proportion of dividends to undistributed profits; from an investor's perspective, look at the dividend rate corresponding to dividends.
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71 companies plan to pay dividends of 63.4 billion yuan in the first half of the year, 18 companies have dividend rates that outperform Yu'ebao
China Securities News reporter Zhang Yujie
In the 2019 mid-term reporting season, 85 companies Listed companies released distribution plans for the first half of the year, of which 71 companies involved cash dividends, with a total planned cash dividend of 63.4 billion yuan. Calculated based on the closing price on September 10, the dividend rate of 22 companies exceeded 2%; compared with Yu'e Bao's latest income of 2.297%, the dividend rate of 18 companies exceeded Yu'e Bao. Some companies with high dividend yields and low valuations have experienced a market rally after releasing distribution plans.
8 companies all paid more than 1 billion yuan in dividends
71 companies planned to pay 63.4 billion yuan in dividends in the first half of the year. 18 companies' dividend rates outperformed Yu'e Bao
Looking at the total amount of dividends, 8 companies paid more than 1 billion yuan in dividends in the first half of the year. Sinopec , PetroChina, and Ping An of China ranked the top three, with total dividends exceeding 10 billion yuan. Yanzhou Coal , Baofeng Energy, Wen's Co., GF Securities , and Weichai Power all paid more than 1 billion yuan in total dividends.
In terms of dividends per share, Yanzhou Coal , Jinlang Technology, Defang Nano, and Zhuosheng Micro all paid dividends per share (before tax) of 1 yuan; China Ping An and Eton Electronics The dividend (before tax) is 0.75 yuan; the dividends (before tax) of 6 companies including Jingjin Environmental Protection, Insai Group, Joyoung, Nanhua Instruments, Hongyuan Electronics, and Dier Laser are all 0.5 yuan per share. The number of dividend-paying companies was relatively small in the first half of the year, and companies that paid large amounts of cash dividends deserve investors' attention. Companies that pay mid-term cash dividends usually have sufficient cash on hand; at the same time, mid-term dividends may indicate great potential for future dividends.
Dongguan Securities Research Report data shows that the overall total dividends of A-share companies increased from 76.4 billion yuan in 2005 to 1.184 billion yuan in 2018, with an average annual growth of 20%. The proportion of dividend-paying companies in the total number of A-share companies increased from 44.2% to 70.7%. Judging from the situation in the past 15 years, industries with higher overall dividend rates include steel, food and beverages, public utilities, textiles and clothing, and chemicals. Judging from the situation in the past three years, about 19.7% of companies have a cumulative dividend rate of more than 40%.
Famous economist Song Qinghui
Famous economist Song Qinghui pointed out that more and more listed companies are launching cash dividends instead of high transfers, which shows the role of regulators in guiding cash dividends. Measuring the dividend intensity of listed companies can be viewed from two aspects. From a company level, look at the proportion of dividends to undistributed profits; from an investor's perspective, look at the dividend rate corresponding to dividends.
22 companies have a dividend rate of more than 2%
Dividend rate is the main indicator of dividend income. Based on the closing price on September 10, the dividend yield of 22 listed companies exceeded 2%. Compared with Yu'ebao's latest income of 2.297%, 18 companies have dividend yields exceeding Yu'ebao.
statistics show that the dividend rates of Yanzhou Coal , Eton Electronics , Surface Coal Industry, Asia Pacific Technology, Wenke Garden, Lianfa Shares and Baofeng Energy are above 3%. Among them, Yanzhou Coal Mining and Eton Electronics exceeded 5%, accounting for 8.75% and 5.6% respectively. Judging from the two indicators of total dividend amount and dividend rate, Yanzhou Coal , Baofeng Energy, and Sinopec achieved "double high" dividend indicators.
Judging from the performance of the secondary market, listed companies with high dividends, high performance growth rates and low valuations have experienced a market boom after the announcement of dividend plans. This is particularly prominent in the coal sector. Yanzhou Coal Mining handed over a semi-annual report that was higher than market expectations. During the reporting period, the company achieved sales revenue of 33.24 billion yuan, a year-on-year increase of 3.16%; net profit attributable to shareholders of the parent company was 5.81 billion yuan, a year-on-year increase of 25.68%; the company launched a generous dividend plan this time.On the first trading day after the release of the semi-annual report, Hong Kong stocks Yanzhou Coal Mining shares opened higher, with an increase of more than 20%. Since the release of the semi-annual report, the share price of A-share company Yanzhou Coal Mining has increased by 19.43%.
The fundamentals of the industry have improved, and the contraction in supply has brought about expectations of rising coal prices. Since the beginning of September, the coal sector has experienced a round of gains. Yanzhou Coal Mining General Manager Wu Xiangqian said at the performance conference that coal prices are expected to remain high and fluctuate in the second half of the year due to the impact of winter heating and the increase in demand in Asia (especially South Asia). The company's financial director Zhao Qingchun also said that the group hopes to maintain the full-year dividend at a level of no less than 35%.
Hong Kong-listed Mainland Enterprises High Dividend Yield Index
71 companies plan to pay dividends of 63.4 billion yuan in the first half of the year, 18 companies have dividend yields that outperform Yu'e Bao
html On September 9, Hong Kong Hang Seng Index Co., Ltd. launched the Hang Seng Mainland China Enterprises High Dividend Yield Index. It aims to reflect the overall performance of mainland companies listed in Hong Kong and with high dividend yields.
The Hang Seng Mainland China Enterprises High Dividend Yield Index selects the 50 stocks with the highest dividend yields from large mainland companies. These stocks have relatively low price volatility and a record of consistent dividend payments over the past three financial years. This new index provides an investment strategy reference for investors pursuing a stable cash income portfolio. The relevant description of
shows that the qualifications for companies in this index are: they have been listed for at least one month, the average market value in the past 12 months is at least HK$5 billion, and the trading volume circulation ratio must reach 0.1%. The index for the selection order of constituent stocks is: first screen the 100 largest securities based on the average market capitalization in the last 12 months, and eliminate the top 20% securities based on the historical volatility in the last year. Candidate securities must have stocks in the last three fiscal years. To distribute dividends, the top 50 securities that meet all conditions are selected as constituent stocks based on the net dividend rate in the last 12 months. The number of constituent stocks is 50, and it is updated every six months.
Information released by Hang Seng Company shows that among the 10 constituent stocks with the highest proportion as of September 6, 2019, many central enterprises listed in Hong Kong have been shortlisted. Among them, Sinopec H shares, China Resources Power , China Merchants Port, and China Resources Cement ranked first, third, fourth, and fifth respectively, with a proportion of more than 3%. In addition, Agile Group , Nine Dragons Paper , Shenzhen International Holdings , Longguang Real Estate , Minsheng Bank H shares and Xinyi Glass were shortlisted in the top ten.
Among them, Sinopec and Agile Group's interim dividend payout ratio exceeded 40%. Sinopec 's mid-term distribution plan for 2019 is RMB 0.12 per share (tax included). Based on the latest closing price, the dividend rate is 2.77%. Original title: 71 companies plan to distribute 63.4 billion yuan in dividends in the first half of the year, and 18 companies have dividend rates that outperform Yu’e Bao
