This paper synthesizes from Guoxin Securities Research report "Special study of Hong Kong Stock High dividend companies, observing the rotation from the Perspective of dividend yield"
There has been a saying on Wall Street: "it is more difficult to enter the market accurately in the market than to catch a flying knife in the air." "
It is often necessary to build an investment strategy with defensive value and offensive tension to be able to win high returns when the market is up, and to control the pullback, reduce losses or even make profits when the market is down. High dividend strategy provides such a protection.
Since June, some institutions have published medium-term strategies for Hong Kong stocks, and the robust high dividend strategy will be increasingly recognized and valued by institutions, and will become the "ballast stone" of many private equity portfolios.
China International Capital Corporation believes that there is still room for repair in Hong Kong stocks from the current valuation level, but given the continuing uncertainty and profit-taking pressure in the market, it suggests that investors are concerned about potential volatility.Considering the current environment, high dividend yield targets and high-quality growth stocks are still good choices.
In terms of allocation ideas, CITIC also released the strategy for Hong Kong stocks for the second half of the year, saying that in the second half of the year as a whole, under the normalization of regulation, it is recommended to pay attention to the Internet sector with low valuations and bottomed performance.And high dividend targets with a strong margin of safety and the ability to continue and stabilize dividends.
Which Hong Kong stocks have high dividend targets worthy of attention?
Guoxin Securities Research newspaper pointed out that"High dividend companies" generally have strong profitability (i.e. high ROE) and performance stability.In order to select companies with high and stable dividend yields, the agency defines"dividend quality"Concept of:
Dividend quality: calculated as "5-year dividend yield average" minus "5-year dividend yield standard deviation", and companies with "dividend quality" greater than 4% are defined as "high dividend companies", and their dividend yield centers are usually greater than 5%.
Take the "dividend quality" in 2022 as an example: high dividend: "dividend quality" is greater than 4%; medium dividend: "dividend quality" is 2.5%; and low dividend: "dividend quality" is 1% 2.5%.
For the Hong Kong stock market, in high / medium dividend companies, the institution advises investorsFocus on real estate, building materials, architectural decoration, banking stocks.
The average daily turnover in Hong Kong Stock Connect in the previous year was more than HK $1 million, and the average daily market value in circulation was more than HK $1 billion. The following high / medium dividend stocks were selected for reference by cattle friends:
Edit / Corrine