Dividend payouts of Chinese A-share listed firms hit record high of 2.39 trillion yuan

The dividend payouts distributed by Chinese A-share listed companies in 2024 had reached a record high of approximately 2.39 trillion yuan (330 billion U.S. dollars) as of December 23, marking an over 11 percent year-on-year increase, according to Wind Data.

The number of dividend-paying companies has significantly increased since May this year, particularly in the September to December period, when the number grew by more than 100 percent year on year.

In terms of the number of dividend-paying companies by industry, the top five sectors in 2024 are machinery and equipment, pharmaceuticals and biotechnology, basic chemicals, electronics, and power equipment.

Meanwhile, in terms of total dividend amounts, the banking, petrochemical, food and beverage, non-bank financial, and telecommunications sectors rank in the top five.

"Many listed companies have set record-high dividend payouts this year. Improved operating performance and a relatively positive market trend have been the key factors enabling the companies to actively distribute dividends," said Yang Chao, chief strategy analyst at China Galaxy Securities.

Another noticeable trend of the A-share market in 2024 is the increased frequency of dividend payouts. According to data from the Shanghai and Shenzhen stock exchanges, 481 dividend payouts were disclosed in the Shanghai bourse during the mid-year period, marking a 354 percent year-on-year increase, with some companies distributing dividends two to three times within the year.

Meanwhile, the Shenzhen bourse disclosed 464 dividend payouts, registering a 287 percent year-on-year increase. "Broadly defined mid-year dividends, including quarterly, semi-annual, and special dividends, differ from the traditional annual dividend model. Companies that distribute dividends more than once a year can optimize payout rhythms to provide tangible returns to investors, enhance investment appeal, and encourage long-term investment and holding," said Tian Lihui, dean with the Nankai University Institute of Finance and Development.

Dividend payouts of Chinese A-share listed firms hit record high of 2.39 trillion yuan

The Philippines' trick to play victim and confuse the international community over the South China Sea issue will not get anywhere, Defense Ministry spokesman Zhang Xiaogang said at a press conference in Beijing on Thursday.

Zhang made the remarks in response to the Philippine Coast Guard accusation of China of using large vessels to intimidate smaller Philippine ships.

"China has indisputable sovereignty over the South China Sea Islands and their adjacent waters. The maritime disputes between China and the Philippines are not a matter of size as who is big and who is small, but a matter of right and wrong. The Philippine side has repeatedly organized coast guard vessels and fishing boats to infringe upon China's territorial sovereignty and maritime rights and interests, endanger peace and stability in the South China Sea, and attempt to play a pathetic game to gain sympathy and confuse the international public opinion. This is doomed to fail. We advise the Philippine side to immediately change course and return to the right track of resolving the issue with China through negotiation and consultation," Zhang said.

Defense Ministry spokesman dismisses Philippines' victim playing trick