① Which one has the best cash dividends? The Industrial and Commercial Bank divided another 100 billion yuan, and Kweichow Moutai paid out 31 yuan per share; ② The Shanghai and Shenzhen markets have issued 1006 dividend plans, of which 998 listed companies decided to pay a total dividend amount of 1.3 trillion yuan; ③ Statistics on the list of listed companies with a total cash payment of more than 25 billion yuan (attached table).
Finance Association, April 4 (Editor: Li Chen Xuanlin) The disclosure of the 2023 annual report results of A-share listed companies is in full swing. Wind data shows that up to now, the number of listed companies that have disclosed their 2023 annual reports has exceeded 1,200, with leading companies generally operating steadily. As of press release, the Shanghai and Shenzhen markets have issued 1006 dividend plans, of which 998 companies decided to pay a total dividend amount of 1.3 trillion yuan. Overall, central state-owned enterprises and market capitalization leaders in the fields of banking, petroleum and petrochemicals, insurance, coal, etc. have steady profitability, and are generally willing to pay dividends.
In the current context where listed companies are collectively focusing on “improving quality, efficiency, and focusing on returns,” analysts say that cash dividends, as a direct return from listed companies to investors, can enhance investors' confidence, cultivate investors' long-term investment concepts, and enhance the image of listed companies. According to listed company announcements and Wind data, ICBC, CCB, Agricultural Bank of China, China Merchants Bank, China Mobile, China Shenhua, CNPC, Kweichow Moutai, CNOOC, Bank of Communications, Ping An, and Postbank all plan to disburse more than 25 billion yuan in cash. The details are shown below:
Data source: Wind, listed company announcements
Among them, the proposed dividend amounts of the four major banks of “China Agricultural Engineering and Construction” temporarily ranked in the top four, while China Merchants Bank ranked fifth in bank stocks. Furthermore, all five banks have a share dividend ratio of 30%. ICBC plans to distribute 3,064 yuan for every 10 shares, with a total dividend of 109.203 billion yuan, temporarily ranking first in the two markets; CCB's dividend amount will also reach 100 billion yuan. Agricultural Bank, Bank of China and China Merchants Bank plan to pay dividends of RMB 80.811 billion, RMB 69.593 billion, and RMB 49.734 billion respectively. Zheshang Securities Liang Fengjie and others said in a research report released on March 28 that ICBC's 2023 dividend plan shows that the dividend per share in 2023 is slightly higher than in 2022, and the increase in dividend per share matches the profit growth rate. ICBC's dividend rate for 2023 remained high, and the dividend rate reached a high level of 5.72%.
China Mobile plans to distribute 21.77 yuan for every 10 shares, with a total dividend of 46.568 billion yuan, temporarily ranking sixth in the two markets. China Mobile's annual report revealed that the board of directors recommended a dividend payout rate of 71% for the full year of 2023. China Mobile plans to gradually increase profits distributed in cash within three years starting in 2024 to more than 75% of the profits due to shareholders in that year. Tang Haiqing of Tianfeng Securities and others said in a research report released on March 24 that China Mobile released its 2023 results, achieving operating revenue of 1009.3 billion yuan, an increase of 7.7% over the previous year, of which main business revenue reached RMB 863.5 billion, an increase of 6.3%, higher than the industry average; achieved net profit of 131.8 billion yuan, an increase of 5.0% year on year, and profitability continued to maintain the leading level of world-class operators.
The total proposed dividends for cyclical stocks China Shenhua and CNPC in 2023 are 44.902 billion yuan and 42,095 billion yuan, respectively. It is worth noting that China Shenhua, a leading coal company, plans to distribute a final dividend of RMB 22.6 per 10 shares in 2023 to all shareholders, with a cash dividend of about RMB 44.903 billion, accounting for 75.2% of the net profit attributable to the company's shareholders, which means that the company will distribute about 3/4 of the current profit. Zhang Xucheng of Open Source Securities and others said in a research report released on March 25 that China's Shenhua's high profits are expected to continue, and continue to have high dividends, highlighting long-term investment value. Fei Qianran of Qunyi Securities said in a research report released on April 2 that in terms of dividends, CNPC values shareholder returns, maintains a high dividend ratio, and highlights the value of high dividend allocation.
Kweichow Moutai announced on Tuesday evening that in 2023, it will achieve operating revenue of 147.694 billion yuan, an increase of 19.01% year on year; net profit of 74.734 billion yuan, up 19.16% year on year, and plans to distribute 10 to 308.76 yuan. Kweichow Moutai's net profit for Q3 of 2023 was 16.896 billion yuan. Based on this calculation, net profit for Q4 2023 was 21,858 billion yuan, an increase of 29% over the previous month. Meanwhile, Kweichow Moutai's 2023 profit distribution plan proposes to distribute cash dividends of 38.786 billion yuan. According to Wind data, Kweichow Moutai has accumulated cash dividends 25 times since its listing, with a cumulative cash dividend amount of 232,654 billion yuan. Regarding Kweichow Moutai has been at the top of A-share market capitalization for many years, analysts said, “Investors have made Kweichow Moutai's high market capitalization.” This is also the reason why Kweichow Moutai has always insisted on cash dividends since its listing, giving back “big money” to investors.
