Key investment points:
A shares have entered the intensive dividend period. Several A-share companies have issued annual dividend plans for 2021. What is the current overall dividend rate and dividend situation by industry?
A shares are about to receive intensive dividends
The dividend plan of 2021 annual report is intensively disclosed, and the dividend rate is higher than that of last year. At present, we have entered the intensive disclosure period of the annual report dividend plan in 2021. As of March 27, 2022, 582 companies have disclosed the annual report data and cash dividend plan at the same time, with a total cash dividend amount of 441.1 billion yuan. The dividend rate of the planned company was 36%, an increase of 1.8 percentage points over last year. In terms of industries, the top five industries with dividend amount in shenwanyi industry index are banking, communication, non bank finance, coal and building materials.
The intensity of dividends increased steadily
With the continuous improvement of A-share corporate governance and dividend system, in recent years, the proportion of Listed Companies Implementing cash dividends, dividend amount and dividend rate in the A-share market have shown an upward trend. According to wind’s data, the number of listed companies participating in cash dividends increased from 1260 in 2010 to 2932 in 2020, and the proportion increased from 61.7% to 70.1%. The amount of cash dividends increased from 492 billion yuan to 1516.2 billion yuan, with a compound growth rate of 12%, and the dividend rate also increased from 29% to 34%.
The investment value is gradually highlighted
On the whole, the investment value of A-Shares gradually appears. From the perspective of dividend, the dividend rate of the dividend plan for the 21-year annual report of A-Shares reached 35%, which was steadily higher than that in previous years, which was conducive to boosting market sentiment. At the same time, the valuation of A-Shares has returned to a relatively low level in history. The PE (TTM) of CSI 300, Kechuang 50, CSI 500 and gem are located in the quantiles of 43.06%, 0.19%, 1.41% and 44.20% respectively since 2010.
Risk tip: the impact of the conflict between Russia and Ukraine is further revealed; The implementation of dividends was less than expected.
