Securities Times reporter Cheng Dan
The China Association of Listed Companies recently released a list of A-share listed companies' cash dividends, including 200 each on the "List of Listed Companies with Rich Returns" and "List of Listed Companies with Sincere Returns".
Among them, the "List of Listed Companies with Rich Returns" uses the total cash dividends in the past year and the past three years as the main indicator. Banks, Bank of Communications, etc. were selected into the top ten; "List of Listed Companies Sincere Returns" is the main indicator of the dividend payout ratio in the past one year and the past three years. Jianxin shares, Zhengzhong Design, Guofang Group, Hongdou shares, LONGi Machinery, Jiuzhitang , Anzheng Fashion, Teyi Pharmaceutical, Huijin Technology, Jasic Technology, etc. were selected into the top ten.
According to the relevant person in charge of the China Association of Listed Companies, the list adheres to the basic principles of representativeness and continuity, which not only encourages long-term sustainable and stable dividend distribution, but also takes into account the characteristics of companies in different sectors, fully reflecting the company's positive willingness to distribute dividends.
In addition to objective quantitative indicators such as total dividends, dividend payout ratio, etc., pre-indicators for integrity and compliance in the securities market, finance and other aspects have been set, and a negative list of "one-vote veto" has been adopted.
In recent years, regulators have continued to improve the construction of the cash dividend system for listed companies. By strengthening the cash dividend decision-making mechanism and information disclosure requirements, they have carried out special inspections on the profit distribution of listed companies, conducted regulatory interviews for companies that do not pay dividends for a long time, and strengthened the publicity and guidance of listed companies' cash dividends. Listed companies are encouraged to implement different dividend policy requirements according to their development stage and industry type.
The willingness, amount and stability of cash dividends of A-share listed companies have been continuously improved and enhanced. The level of dividends has been comparable to that of international mature capital markets. Listed companies have become a "new channel" for investors to share the dividends of economic growth.
From the perspective of total dividends, a total of 3,170 listed companies have released the 2021 cash dividend plan, an increase of 4.9% and 17.7% respectively compared with the number of companies implementing dividends in 2020 and 2019.
The total cash dividend plan in 2021 will exceed 1.5 trillion yuan, a year-on-year increase of 1.4% and 13.6% compared with the total implementation of dividends in 2020 and 2019.
From 2008 to 2021, the proportion of listed companies that paid dividends for five consecutive years increased from 24% to 50%, and the proportion of listed companies that paid dividends for 10 consecutive years increased from 4% to 32%.
Judging from the list, the total cash dividends of the companies selected in the "List of Listed Companies with Rich Returns" in 2021 will account for 63.55% of the total dividends of all A-share companies, and the total cumulative cash dividends from 2019 to 2021 will account for all A-share companies. 66.67% of the total.
Among them, there are 137 main boards in Shanghai, 58 main boards in Shenzhen and 5 companies in ChiNext.
State-controlled listed companies accounted for 62.5%.
Among the companies selected in the "List of Listed Companies' Sincerity Returns", 90 are listed on the main board of the Shanghai Stock Exchange, 31 are listed on the Main Board of the Shenzhen Stock Exchange, and 79 are listed on the Growth Enterprise Market.
Private listed companies account for 60%.
The industry distribution of the companies selected for the list is mainly based on the manufacturing industry, and 40 companies were selected for both lists at the same time.
The relevant person in charge of the China Association of Listed Companies said that listed companies are the cornerstone of the capital market.
Investors and listed companies are the symbiotic body of the market.
Only listed companies that know how to respect and reward investors can win the recognition and respect of the market.
As an important form of realizing investment returns, cash dividends are an important manifestation of respecting and protecting the rights and interests of investors.
A sustainable, stable, scientific and reasonable dividend distribution mechanism is of great significance to the value recognition, quality improvement of listed companies and the stable and healthy development of the capital market.
The release of the list aims to guide listed companies to repay investors through cash dividends and other methods based on their own development stages and capital status, effectively protect the legitimate rights and interests of investors, cultivate the concept of long-term investment in the capital market, and enhance the vitality and attractiveness of the capital market.
The China Association of Listed Companies will also continue to carry out a series of best practice advocacy work, strengthen self-discipline management, play an exemplary and leading role in outstanding companies, and promote the improvement of the quality of listed companies.