four listed insurance companies plan to distribute interim dividends of about 27 billion yuan, with ping an of china accounting for more than 60% of the dividends
2024-09-07
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our reporter su xianggao and trainee reporter yang xiaohanrecently, a-share listed insurance companies have successively disclosed their mid-term profit distribution plans for 2024. among them, ping an of china, china life, picc, and new china life all plan to implement mid-term dividends, with a total cash dividend of about 27 billion yuan. among them, ping an of china ranks first among the four insurance companies with a total cash dividend of 16.84 billion yuan, accounting for more than 60%.experts interviewed said that the listed insurance companies actively implemented mid-term dividends, indicating that their capital strength is relatively strong and they are confident in future business development. at the same time, some listed insurance companies also mentioned that in the future, they will comprehensively consider the company's annual operating conditions, shareholder returns, and business development needs to determine the annual dividend level.specifically, except for china pacific insurance, ping an of china, china life, china insurance group and new china life insurance plan to pay cash dividends of approximately 16.84 billion yuan, 5.653 billion yuan, 2.786 billion yuan and 1.685 billion yuan respectively, totaling 26.964 billion yuan.in terms of interim dividends, ping an of china plans to pay a cash dividend of rmb 0.93 per share (tax included, the same below), china life plans to pay a cash dividend of rmb 0.20 per share, picc plans to pay a cash dividend of rmb 0.63 per 10 shares, and new china life plans to pay a cash dividend of rmb 0.54 per share.xu yuchen, a founding member of the chinese actuarial society, told the securities daily reporter that interim dividends are a part of the half-year profit that listed companies give back to investors in the form of cash or other forms. the ability to make interim dividends indicates that the capital strength of the insurance company is relatively strong and it is very confident about the future business development prospects.in terms of mid-term dividend rate, ping an of china has the highest rate, reaching 22.6%; new china life, china life, and china insurance are 15.2%, 14.8%, and 12.3% respectively. benefiting from the good performance of the liability and asset sides, the performance of listed insurance companies in the first half of this year has exceeded expectations, and net profit performance is strong. among them, the scale of mid-term dividends of new china life has accounted for 63.5% of the total dividends of the whole year last year, and the scale of dividends of china life, china insurance, and ping an of china accounted for 46.5%, 40.4%, and 38.3% of the whole year last year respectively.xu yuchen said that overall, the mid-term dividend rates of listed insurance companies are in the range of 12% to 23%, which can not only provide feedback to investors, but also reserve a certain amount of capital for the future development of listed insurance companies. it is generally reasonable.what factors do listed insurance companies consider when formulating mid-term dividend plans? zhao peng, vice chairman and president of china insurance group, introduced at the china insurance group's 2024 first half performance conference that the company comprehensively considered regulatory requirements, business development, and operating results under the new standards to determine the dividend ratio and calculate the mid-term dividend amount. it is mainly distributed according to about 40% of the profit distribution amount for the whole year of 2023. the annual dividend amount will be calculated based on the net profit attributable to the parent company achieved in 2024. at the same time, it must also meet the requirements of the ministry of finance on the proportion of state-owned capital income to be turned in.gong xingfeng, vice president, chief actuary and secretary of the board of directors of new china life insurance, said at the new china life insurance's 2024 first half performance conference that the first half of the year reversed the decline in profits in the first quarter and increased by 11% compared with the same period last year. on this basis, the company has adopted a long-term and stable dividend policy to consider the dividend level in combination with shareholders' expectations, capital conditions and the level of solvency that can be supported.announced interim dividend plan for the first timeafter the new "nine national articles" proposed "promoting multiple dividends a year", china life insurance, china insurance group and new china life insurance announced their mid-term profit distribution plans for the first time.regarding the considerations for increasing interim dividends, zhao peng stated that the group increased interim dividends this year, mainly taking into account the following aspects: first, to implement the new "nine national articles" requirements and enhance investors' confidence in the company's reform and development; second, to further give back to investors and share the dividends of the company's development with investors in advance; third, to comprehensively consider regulatory requirements, business development, and operating results under the new standards and other factors to determine the dividend ratio and calculate the amount of interim dividends.looking ahead, what arrangements will listed insurance companies make for the annual dividend plan? zhao peng said that in the future, picc group will maintain the continuity and stability of its dividend policy and continuously enhance its profitability, thereby providing shareholders with continuous, stable and reasonable returns. the group and its property and casualty insurance companies will determine the annual dividend amount based on the company's articles of association and taking into account factors such as shareholder returns, solvency and business development.gong xingfeng said that the next step will be to comprehensively consider the business development needs of new china life, strike a good balance, and steadily launch the annual dividend plan.li mingguang, president of china life, said at the china life 2024 interim results conference that in order to further give back to investors, china life has increased interim dividends this year. in the future, the basic rules that have been followed for a long time will be continued. on the premise of meeting regulatory requirements, the company's annual operating conditions, shareholder returns and business development needs will be comprehensively considered to determine the annual dividend level.xu yuchen said that mid-term dividends will reduce the idle net assets of insurance companies and, to a certain extent, reduce the solvency adequacy ratio of insurance companies. in the future, listed insurance companies need to consider business development and capital structure and carefully determine the size of dividends while ensuring sufficient and stable long-term solvency.image | zcool helo
produced by | zhang wenling
