Zhejiang listed companies have set a record high in total cash dividends, with 567 companies planning to distribute over 116.4 billion yuan in cash

In 2023, under the supervision and urging of the China Securities Regulatory Commission, the dividend system of listed companies in China has continued to improve, and the dividend intensity of listed companies has also been significantly improved. As an important force in the capital market, the performance of listed companies in Zhejiang is particularly impressive.

As of April 30, 2024, 705 out of 707 A-share listed companies in Zhejiang Province have disclosed their annual reports for 2023. Among them, 567 have announced their cash dividend plans to be implemented this year, with an expected total cash dividend amount of 116.445 billion yuan, setting a new historical high. The high dividend yield demonstrates the stable operation of Zhejiang enterprises. Among the 567 A-share companies in Zhejiang that disclosed their cash dividend plans, 433 had a cash dividend ratio exceeding 30%, 206 had a cash dividend ratio exceeding 50%, and 36 listed companies even had a cash dividend ratio exceeding 100%.

The dividend yield is an important measure of whether a company has investment value, and a high dividend yield often indicates that the relevant listed company is operating steadily and has good dividend paying ability. Among them, industry leading enterprises such as Hikvision, Zhejiang Commercial Bank, and Ningbo Bank have become the "main force" of cash dividends with strong capital strength. The three companies have received annual dividends of 8.398 billion yuan, 4.504 billion yuan, and 3.962 billion yuan respectively in 2023. The development of the Zhejiang sector has ushered in new opportunities. The "415X" advanced manufacturing cluster cultivation project being implemented in Zhejiang Province provides strong support for the development of listed manufacturing enterprises.

In 2023, the operating revenue of the "415X" advanced manufacturing cluster in Zhejiang Province reached 8.64 trillion yuan, driving the growth of revenue and profits for related enterprises. In the top 100 list of cash dividends, manufacturing companies dominate, with companies in related industries accounting for about 70%. It is worth mentioning that in the new energy vehicle industry chain, companies such as Jingsheng Electromechanical, Deye Co., Ltd., and Fulaite have performed outstandingly, with total cash dividends exceeding 800 million yuan.

In addition, the automotive parts industry in Zhejiang Province has also maintained a good growth momentum, with a cumulative growth rate of 19.7% in the added value of large-scale industries in 2023. With the high-quality development of Zhejiang's economy, the "Zhejiang sector" is expected to usher in more development opportunities. The impressive dividend performance of listed companies in Zhejiang not only reflects the feedback to investors, but also demonstrates the strength of the company's stable operation. Under the policy guidance of the "New Nine Measures", it is believed that more Zhejiang enterprises will actively embrace the capital market in the future, repay investors with practical actions, and contribute to the healthy development of the capital market.