During the disclosure period of 2021 annual report, A-share dividend has become the focus of the market.
According to the statistics of the first financial reporter, as of April 3, the average dividend rate of A-share listed companies (nearly 12 months, the same below) was 1.47%; The dividend rate of banking, steel, textile and clothing industries ranks first; 115 companies have a dividend yield of more than 5% in the past 12 months, and 12 companies have a dividend yield of more than 10%.
Some insiders said that since the beginning of the year, the interest rate difference between the yield and dividend rate of one-year treasury bonds has been narrowing. From the resumption of trading, the narrowing of the interest rate difference between one-year treasury bonds and dividend rate is often a signal that the market has gradually stepped into the bottom area.
Shanghai stock exchange companies with dividend yield exceeding 5%
As of April 3, the largest cash dividend in the A-share market was Kweichow Moutai Co.Ltd(600519) . The company plans to pay 21.675 yuan (including tax) per share, far ahead.
In 2021, Kweichow Moutai Co.Ltd(600519) realized a net profit attributable to the parent company of 52.46 billion yuan, with a year-on-year increase of 12.34%. Based on the total share capital of 1.256 billion shares at the end of 2021, the company distributed cash dividends of RMB 216.75 (including tax) to all shareholders of the company for every 10 shares, with a total profit of RMB 27.228 billion and a cash dividend ratio of 51.90%.
If Kweichow Moutai Co.Ltd(600519) 2021 annual profit distribution plan is implemented, the company’s cumulative cash dividend will reach 148583 billion yuan, about 74 times of the net fund-raising since listing, accounting for 48.22% of the total net profit since listing, and the proportion of cash dividend for seven consecutive years will exceed 50%.
Based on the closing price of Kweichow Moutai Co.Ltd(600519) shares at the end of the year, the dividend yield of the company in 2021 is 1.06%, an increase of 0.08 percentage points over 2020.
Chongqing Department Store Co.Ltd(600729) has the highest dividend yield among the listed companies in Shanghai stock market that have disclosed the 2021 annual report.
According to the 2021 annual report, Chongqing Department Store Co.Ltd(600729) plans to distribute cash dividends of 37.90 yuan (including tax) to all shareholders for every 10 shares. After deducting the total number of shares in the special securities account repurchased by the company as of December 31, 2021, the base is about 396 million shares. Based on this calculation, the total cash dividend to be distributed is 1.501 billion yuan (including tax), and the proportion of cash dividend in 2021 will reach 178.20% (including the dividend rate of repurchasing shares in cash in 2021, which is 24.97%).
As of April 3, the latest share price of the company was 26.57 yuan / share, and the dividend yield in the past 12 months reached 13.66%, 9.96 percentage points higher than the one-year LRP (quoted interest rate in the loan market).
Fangda Special Steel Technology Co.Ltd(600507) the dividend yield in recent 12 months also exceeded 10%, which was 12.66%. The company’s 2021 annual report shows that it plans to distribute a cash dividend of 11.10 yuan (including tax) for every 10 shares to all shareholders. As of December 31, 2021, the total share capital of the company is about 2.156 billion shares. Based on this calculation, the total cash dividend to be distributed is 2.393 billion yuan (including tax).
In addition, among the Shanghai stock exchange companies that have announced the cash distribution plan, many companies also have a dividend rate of more than 5%.
According to the closing share price on April 1, Bestsun Energy Co.Ltd(600681) , Beijing Sifang Automation Co.Ltd(601126) , Guanghui Logistics Co.Ltd(600603) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , Industrial And Commercial Bank Of China Limited(601398) and other companies have a dividend yield of more than 5% in recent 12 months.
“If you choose financial products, fund fixed investment and other investment tools, it would be good to achieve this level of income.” Insiders believe that although the dividend yield of about 5% is not high for institutional investors, it is also a stable and reliable choice under the current complex situation outside China; For personal wealth managers and individual clients, it is also a good choice as a part of the asset portfolio.
release what signal
So, what is the dividend yield of A-Shares as a whole, by industry and by company?
Zheshang Securities Co.Ltd(601878) strategy chief analyst Wang Yang said in a recent research report that from 2000 to 2010, the dividend yield center of Wande quana was close to 1.2%, while after 2010, the dividend yield center of Wande quana increased.
As of April 3, the average dividend yield of A-share listed companies (nearly 12 months) was 1.47%.
Taking the arithmetic mean of Companies in the industry as the statistical caliber of dividend rate of each industry, from the perspective of industry distribution, as of April 3, the dividend rate of banking, steel, textile and clothing industries was the highest, with dividend rates (in recent 12 months) of 4.12%, 3.9% and 2.81% respectively. Among other industries, the industries with dividend yield exceeding 2% include real estate (2.68%), coal (2.56%), household appliances (2.17%), public utilities (2.14%) and commercial retail (2%).
From the perspective of listed companies, as of April 3, 2022, the dividend yield of 115 companies in recent 12 months exceeded 5%, and that of 12 companies exceeded 10%.
Among them, the dividend yield of the top 20 stocks (nearly 12 months in the last 12 months) is more than 8% and the top 20 stocks are over 8% in the last 12 months, and the top 20 stocks are over 8% in the last 12 months. The top 10 stocks are 0 Shenzhen Fountain Corporation(000005) 5550 \ , Shenzhen Wenke Landscape Co.Ltd(002775) , Bengang Steel Plates Co.Ltd(000761) , etc.
Wang Yang recalled the history that since 2002, there have been four rounds of narrowing periods of one-year treasury bond interest rate and wandequan A’s dividend yield in the A-share market, namely from August 2005 to May 2006, November 2008 to February 2009, may 2012 to November 2012 and may 2018 to December 2018. In these four periods, A-Shares gradually entered the bottom area.
“The reason behind this phenomenon may be that when the dividend yield is close to or higher than the bond interest rate, the attractiveness of the stock market increases and the allocation value of stock assets increases.” Wang Yang said.
