According to the data, as of 22:00 on April 29, 3266 A-share listed companies chose cash dividends in 2021, with a total amount of 1.73 trillion yuan and a record scale.
In terms of the proportion of cash dividends, transportation, basic chemicals, medicine, biology and other industries rank high. High profit companies actively took out “cash and silver” to give back to investors, and many science and Innovation Board companies also joined in one after another.
27 companies paid dividends of more than 10 billion yuan
Yi Huiman, chairman of the Securities Regulatory Commission, said a few days ago that listed companies should strive to improve “five abilities”, including “focusing on benefits and improving returns”. We should continue to enhance returns to shareholders and enhance investors’ sense of gain through cash dividends, share repurchases and other means.
Among the 3266 listed companies mentioned above, there are 27 with a total cash dividend of more than 10 billion yuan and 11 banks Industrial And Commercial Bank Of China Limited(601398) , China Construction Bank Corporation(601939) , Agricultural Bank Of China Limited(601288) and Bank Of China Limited(601988) continued to rank among the top four in the total cash dividend list, with a total dividend of more than 332.9 billion yuan. In addition, Ping An Insurance (Group) Company Of China Ltd(601318) , China Petroleum & Chemical Corporation(600028) and others also sent 10 billion yuan in cash dividends, and China Mobile and China Telecom Corporation Limited(601728) are also on the list.
The amount of cash dividends (including cash dividends) of the listed companies accounts for nearly 30% of the total dividends (including cash dividends) of the listed companies. Among them, there are 104 companies with a dividend ratio of more than 100% (inclusive), and Aupu Home Style Corporation Limited(603551) ranks first with a dividend ratio of 766.19%.
Some securities companies said that the increase of dividend scale of listed companies can convey the signal of stable operation and strong profitability to the market and improve the market’s confidence in its development.
high profits lay the foundation for dividends
In 2021, of the 749 companies whose net profit more than doubled, 482 chose cash dividends, and the industry was concentrated in the fields of basic chemical industry, electronics, power equipment, non-ferrous metals and so on. Among them, Nuode Investment Co.Ltd(600110) plans to distribute a total cash dividend of 104 million yuan (including tax), accounting for 25.7% of its net profit and 22.5% of its distributable profit in 2021.
At the same time, more than 90% of the 77 listed companies with a net profit of more than 10 billion yuan chose cash dividends. Among them, China Shenhua Energy Company Limited(601088) plans to distribute 25.4 yuan (including tax) for every 10 shares, with a total cash dividend of 50.466 billion yuan (including tax), accounting for 100.4% of the net profit in 2021. According to the annual report, the net profit of the company in 2021 increased by 28.3% year-on-year to 50.269 billion yuan.
It is worth mentioning that with the enhancement of profitability, many listed companies on the science and innovation board have joined the queue of cash dividends. According to the disclosed annual report data, in 2021, the overall revenue of Kechuang board company increased by 37% year-on-year, and the net profit increased by more than 76% year-on-year. Among the 418 listed companies on the science and innovation board, 321 have issued cash dividend plans, accounting for more than 70%.
advocate diversified cash dividend standard
CSIC Financial Research Institute believes that listed companies should comprehensively consider their industry, development stage and financial indicators when making cash dividends, especially some companies in the period of rapid business development.
According to data, among the 4726 companies that have disclosed their annual reports, 1418 companies do not pay cash dividends, accounting for more than 30%. Among them, the growth sectors such as mechanical equipment, electronics, medicine and biology account for nearly 30%.
Dizhe pharmaceutical and Shanghai Junshi Biosciences Co.Ltd(688180) etc. all claim that the R & D expenses are high and the enterprise has not yet made a profit, so they do not distribute profits. Maiwei biology, which was just listed in January this year, said that the company’s working capital mainly depends on external financing. If the operating and development expenditure is excessive, it will lead to tight cash flow in operating activities and have an adverse impact on product R & D investment and talent introduction. In 2021, the R & D investment of Maiwei biology increased by 7.08% year-on-year, reaching 623 million yuan. The company has 1 commercialization stage variety and 11 innovative drug varieties under development.
In addition, many companies did not distribute profits for the first time in 2021 Contemporary Amperex Technology Co.Limited(300750) it is estimated that the expenditure on capacity construction, R & D investment and raw material procurement in 2022 will exceed 10% of its audited net assets in the latest fiscal year and more than 1.5 billion yuan. Therefore, the company decides not to pay dividends in 2021 and the remaining undistributed profits will be carried forward to the next year to meet the needs of long-term development.
Xcmg Construction Machinery Co.Ltd(000425) also broke the tradition of cash dividends for five consecutive years. The company said that it was carrying out a major asset restructuring. In order to maintain the stability of the equity structure and speed up the restructuring process, it planned not to carry out profit distribution in 2021. The retained undistributed profits of the company will be mainly used to meet the daily operation, self owned project construction, business development and other aspects Xcmg Construction Machinery Co.Ltd(000425) said that in the future, it will pay more attention to repay investors in the form of cash dividends, actively fulfill the obligation of cash dividends in combination with the actual situation of the company, and share the development achievements of the company with investors.
