"Vote for me with papaya, and repay it with Qiongju. "Cash dividends are an important way for listed companies to give back to investors. In the annual report season every year, indicators such as the dividend ratio and dividend amount of listed companies have become the focus of market attention. As of 18:00 on April 29, a total of 4,895 A-share listed companies have disclosed their 2023 annual reports, and 3,653 companies plan cash dividends, accounting for 74.62%. Cash dividends have become the "standard" for profit distribution of listed companies.
After the promulgation of the new "National Nine Articles" in the capital market, the China Securities Regulatory Commission and the stock exchange have spoken out one after another around encouraging cash dividends of listed companies, and new highlights have emerged in the dividends of listed companies. Excellent performance, "surplus grain in a good year", safe cash flow, guaranteed dividends, abundant orders in hand, the company has confidence in future development...... These are the confidence of listed companies to pay dividends. It is worth noting that some companies with declining performance or even losses plan to pay dividends. So far, 94 loss-making companies have planned to pay dividends. In addition, companies such as Yonggui Electric, Fushun Special Steel, and Anfu Technology, which do not pay dividends all year round, will also change the image of the "iron rooster" in the past in 2023 and plan to give back to investors with "real money".
Dividends are still paid despite declining performance
Among the 4,895 listed companies that disclosed their 2023 annual reports, 2,565 companies achieved a year-on-year increase in net profit, accounting for 52.4%, and 3,653 companies planned cash dividends, accounting for 74.62%. The net profit of some companies in 2023 will decline significantly year-on-year, but they still overcome difficulties and plan to pay large dividends.
The board of directors of China Shenhua proposes to distribute a final dividend of 2.26 yuan per share (tax included) in 2023 based on the total share capital registered on the record date of the implementation of equity distribution, with a total dividend of 44.903 billion yuan (tax included). In 2023, China Shenhua will achieve a net profit attributable to shareholders of listed companies of 59.694 billion yuan, a year-on-year decrease of 14.3%. China Shenhua has formulated a shareholder return plan for 2022 to 2024 in the early stage, promising to pay cash dividends of no less than 60% every year. In practice, the target has been exceeded, and the dividend payout ratio in 2023 will reach 75.2%. The reporter found that up to now, 94 loss-making enterprises have planned to pay dividends. Among them, 31 companies, including China Heavy Industry, Luoniushan, 360, East Sunshine, and Zhonghong Medical, will lose more than 100 million yuan in 2023. In 2023, East Sunshine will achieve operating income of about 10.854 billion yuan, a year-on-year decrease of 7.23%, and net profit attributable to owners of the parent company of about -294 million yuan, a year-on-year decrease of 123.67%. In order to respond to the call of the regulator to encourage dividends, stabilize investors' dividend expectations, and comprehensively consider the company's overall financial situation and the reasonable demands of investors, the company intends to distribute a cash dividend of 3.36 yuan (tax included) for every 10 shares. Some loss-making companies pay more dividends. According to Zhonghong Medical's 2023 annual report, the company achieved a total operating income of 2.105 billion yuan, a year-on-year increase of 33.87%, and a net profit loss attributable to shareholders of listed companies of 131 million yuan, compared with a profit of 66.916 million yuan in the same period last year. The company intends to distribute a cash dividend of 5 yuan (tax included) to all shareholders for every 10 shares. Listed companies will pay cash dividends to investors to help the healthy and stable development of the capital market. "In 2023, the company's performance will decline temporarily, but we are confident in the future development. The number of orders for 'going overseas' continues to increase, and the cost side is extremely controlled through intelligent transformation, which is the confidence for us to choose dividends at the current node. Therefore, respond to the call to actively distribute dividends and give back to investors. Gao Weiquan, chairman of Zhite New Materials, said in an interview with a reporter from the China Securities Journal.
Some companies pay large dividends
There are 2,493 companies with a net profit of more than 100 million yuan in 2023, and 1,449 companies that plan to pay dividends of more than 100 million yuan in 2023. According to statistics, there are 2,734 companies that plan to pay dividends of more than 1 yuan (tax included) per 10 shares, 1,211 companies that plan to pay dividends of more than 3 yuan (tax included) per 10 shares, and 179 companies that plan to pay dividends of more than 10 yuan (tax included) per 10 shares. Kweichow Moutai, Nova Nebula, Quartz Co., Ltd., CATL, Roborock, Midea Group, Xingqi Eye Medicine and other 18 listed companies plan to pay dividends of more than 30 yuan (tax included) for every 10 shares. Further combing found that among the above 18 companies that plan to pay dividends of more than 30 yuan (including tax) per 10 shares, Kweichow Moutai, CATL, Shanxi Fenjiu, BYD, Midea Group and other companies will have net profits of more than 10 billion yuan in 2023. Kweichow Moutai plans to distribute a cash dividend of 308.76 yuan (tax included) to all shareholders for every 10 shares in 2023, ranking first in terms of dividends. During the reporting period, the company achieved a total operating income of 150.56 billion yuan, a year-on-year increase of 18.04%, and a net profit attributable to shareholders of listed companies of 74.734 billion yuan, a year-on-year increase of 19.16%. It is worth noting that 91 listed companies, including Robam Appliances, Guoguang Shares, CNGR Shares, Langma Information, and Red Star Development, have released medium-term dividend plans for 2024, of which 82 companies plan cash dividends in 2023. Seven listed companies, including Longbai Group, Daodaoquan and Linglong Tire, released dividend plans for the first quarter of 2024.
Enhance investors' sense of gain
Under the guidance of the policy, cash dividends of listed companies have become a common practice. Yonggui Electric, Fushun Special Steel, Anfu Technology and other companies have recently disclosed dividend plans after years of non-dividends. The regulator has introduced policies to encourage listed companies to pay dividends and achieve good results. Jilin Expressway and other companies originally did not plan to pay dividends, but after receiving an inquiry letter from the exchange, they chose to pay dividends. On the evening of April 18, Jilin Expressway disclosed that it would adjust the profit distribution plan for 2023 and plan to distribute cash dividends of 0.9 yuan (tax included) for every 10 shares. Prior to this, the company announced on the evening of April 14 that it had received a regulatory inquiry letter from the Shanghai Stock Exchange on the company's profit distribution plan, because on April 12, 2024, the company reviewed and approved the 2023 profit distribution plan, and planned not to distribute profits, not to carry out cash dividends, not to implement share gifts and capital reserve to increase share capital, among which Vice Chairman Liu Xianfu and independent director Lin Jianzhong abstained from voting on the plan. Yang Delong, chief economist of Qianhai Open Source Fund, said that the introduction of the new "National Nine Articles" is mainly to promote the high-quality development of the capital market. Encouraging listed companies to pay cash dividends is the proper meaning of the topic, which is conducive to the long-term healthy development of the capital market and the protection of the interests of small and medium-sized investors. Yang Delong believes that the implementation of the new "National Nine Articles", for companies that have not paid dividends for many years or have a low proportion of dividends, take measures such as restricting the reduction of major shareholders and implementing risk warnings, and the future A-share "iron rooster" may be labeled as ST, thereby promoting the improvement of the overall dividend level of listed companies, promoting the healthy development of the capital market, and enhancing investors' sense of gain.
