Securities Times | A Wave of Cash Dividends Distributed: SSE-Listed Companies Begin Pre-Spring Festival Payouts

Securities Times Reporter Zhang Shuxian

On the evening of December 10, Kweichow Moutai released its announcement on the implementation of its interim equity distribution. Based on a total share capital of 1.252 billion shares, the company will distribute a cash dividend of RMB 23.957 per share, amounting to a total payout of RMB 30.001 billion. The ex-dividend date for this distribution is December 19. On the evening of December 11, several companies, including Chongqing Brewery and Linglong Tyre, also issued their respective dividend implementation announcements.

A batch of "cash red envelopes" is being distributed, creating a small dividend peak ahead of the Spring Festival. According to statistics, from December 8 to December 19, a total of 37 companies, including the four major state-owned banks and Kweichow Moutai, will distribute more than RMB 220 billion in dividends.

This year marks the second year of implementing "pre–Spring Festival dividends", and listed companies are actively taking steps to maintain stable and regular dividend distributions. For example, the four major state-owned banks have all responded to the call for interim dividends, continuing to lead in dividend amounts and serving as the backbone of interim dividend distributions among SSE-listed companies.

According to the announcements, Bank of China and China Construction Bank completed their cash dividend payments on December 11, with payout amounts of RMB 35.25 billion and RMB 48.6 billion, respectively. Industrial and Commercial Bank of China and Agricultural Bank of China will complete their dividend payments on December 15, with corresponding amounts of RMB 50.4 billion and RMB 41.8 billion. Overall, these distributions are nearly one month earlier compared with last year.

It is worth noting that this is the second consecutive year in which the four major state-owned banks have carried out sizable interim dividend distributions. The dividend scale is roughly the same as last year, with the dividend payout ratio remaining steadily around 30%, underscoring the consistency and stability with which large state-owned banks deliver returns to investors.

According to additional statistics, from December 8 to December 19, another 26 companies will distribute third-quarter dividends, with the total amount exceeding RMB 36 billion.

The launch of pre–Spring Festival dividends among the SSE-listed companies is a vivid reflection of their continued efforts to enhance investor returns and strengthen investors' sense of gain. Since the beginning of this year, 510 companies on the SSE have announced interim dividend plans (based on Q1, half-year, and Q3 reports), with total declared interim dividends reaching RMB 644.1 billion—an 11% increase from RMB 582.8 billion in the same period of 2024. This demonstrates a positive trend in which both the willingness and the capacity of the SSE-listed companies to pay dividends are improving in tandem.

Statistics show that among the companies with interim dividend plans, 62 have not yet finalized their ex-dividend dates, with approximately RMB 75.8 billion in dividends pending distribution. These payouts are largely expected to be completed before the Spring Festival.

Editor: Sun Xiaoxi

Proofreader: Gao Yuan