Approximately 240 Billion Yuan in Dividends to Be Distributed Before Chinese New Year

A wave of cash dividends is set to hit the A-share market ahead of the Chinese New Year, with 73 listed companies planning to distribute a total of 239.75 billion yuan ($33.7 billion) between December 8 and December 19.

On December 11, Kweichow Moutai announced an interim dividend plan, distributing 23.957 yuan per share, totaling 30.001 billion yuan. The ex-dividend date is set for December 19.

This dividend surge aligns with China’s recent policy encouraging listed firms to adopt flexible payout schedules, including "multiple annual dividends, pre-dividends, and pre-holiday dividends." This marks the second year of the "pre-Chinese New Year dividend" initiative, with companies demonstrating stable and regular payout commitments.

The "Big Four" state-owned banks—Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BOC), and China Construction Bank (CCB)—lead the pack, collectively declaring 176.1 billion yuan in interim dividends, accounting for 27% of the total announced payouts.

BOC and CCB completed their A-share dividend distributions on December 11, disbursing 35.25 billion yuan and 48.6 billion yuan, respectively. ICBC and ABC will follow on December 15, distributing 50.4 billion yuan and 41.8 billion yuan—nearly a month earlier than last year. These banks have maintained a steady payout ratio of around 30% for two consecutive years, reinforcing their role as top dividend contributors.

Additionally, 58 companies will distribute third-quarter dividends totaling over 52 billion yuan during the same period, including industry giants like Kweichow Moutai, Wuliangye, and Inner Mongolia Yili Industrial Group.

Analysts view this trend as a sign of A-share companies’ growing focus on shareholder returns. Year-to-date, 1,081 listed firms have announced interim dividend plans worth 780.45 billion yuan, with Shanghai-listed companies accounting for 644.1 billion yuan—an 11% year-on-year increase.

Notably, 129 companies with pending ex-dividend dates are expected to distribute an additional 94.07 billion yuan before the holiday, further boosting investor sentiment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should exercise caution and conduct independent research.