2024-09-30
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investors' respect for high-dividend dividend stocks will be the norm for a-shares.
the central bank is fully committed to promoting financial
incremental policy measures are being implemented faster
on september 25, the 2024 third quarter (106th overall) regular meeting of the monetary policy committee of the people's bank of china was held in beijing. the meeting pointed out that interest rates, reserves, re-lending, government bond trading and other tools must be comprehensively used to effectively serve the real economy. effectively implement various existing structural monetary policy tools,promote the implementation of new instruments such as swap facilities for securities, funds, and insurance companies, and stock repurchases, holdings, and re-lending.maintain capital market stability.
recently, the capital market policy toolbox has been fully opened. on september 24, the three "top leaders" of the "one bank, one bureau and one meeting" at the press conference of the state council information office deployed a package of financial "combinations" to support high-quality economic development, including monetary policy support for the stock market and the property market. improving the financial system to stimulate market vitality, attract medium and long-term funds to enter the market, stabilize market expectations, and release a strong signal to boost the economy.
industry insiders said that the introduction of the central bank's stock repurchase, holdings and re-lending policy has a negative impact on high-dividend companies.if the dividend rate exceeds the loan interest rate, there will be an incentive to repurchase through this special loan;buying back and increasing holdings will stimulate the stock price to rise, bringing about a profit-making effect.
in other words, the central bank's 300 billion yuan in repurchases, holdings, and re-lending to companies will earn an interest rate of 2.25%. if a listed company's annual dividend rate is higher than 2.25%, it can achieve risk-free profits.
most of the listed companies that meet the above loan conditions are concentrated in the dividend sector with higher dividend rates. in recent rounds of market conditions, the dividend sector has been favored by long-term funds because of its stable performance and considerable dividends. the dividend index showed a super positive line last week (september 23 to 27), with a cumulative increase of 11.85%, overcoming the shock and decline in the previous ten weeks in one fell swoop, and the rebound was full of strength.
chen xing, chief macro analyst at caitong securities, said that increased support for buybacks and holdings will benefit high-dividend industries.
wang zonghao, head of china equity strategy research at ubs, also believes that policy measures are positive for the overall stock market. high-dividend stocks may benefit from inflows from swap facilities, while companies that engage in buybacks may also experience higher stock prices.
"two high and one low" stocks released
high dividends have become a growing topic this year, which is not unrelated to the favorable support at the policy level. after the new "nine articles of the nation", dividends have become a key word; corporate shareholding reduction behavior is linked to dividends, effectively increasing corporate willingness to pay dividends.
in the future, it can be expected that more and more listed companies will launch greater dividends to reward investors. in this context, investors' respect for high-dividend dividend stocks will be the norm for a-shares.
wind shows that the dividend rate of guoxin hong kong stock connect central enterprise dividend index is as high as 6.42%, and the advantages of high dividends are obvious.the current market sentiment has reversed, and the oversold sectors with high dividends are expected to usher in a rebound.
databao selects high-quality, low-valuation and high-dividend stocks based on the latest closing price. the conditions include:
1. since the beginning of this year, the repurchase amount has exceeded 100 million yuan.
2. the rolling dividend rate is higher than 3%.
3. the latest rolling price-to-earnings ratio is less than 20 times.
4. there are more than 5 rating agencies.
according to statistics from securities times·databao, a total of 42 stocks are on the list. from the perspective of market capitalization, the six stocks have a market capitalization of over 100 billion yuan, of whichhikvisionthe highest, more than 270 billion yuan;chinese architectureit was 241.34 billion yuan, second. in addition, dragonbai group, huayou cobalt, changchun high-tech, livzon groupthe market value of all of them exceeds 30 billion yuan.
the stock with the lowest market capitalization isscience, engineering and energy, which is 5.084 billion yuan. besideslianmei holdings, hualan vaccine, jiuzhou pharmaceutical, qiaqia foodthe market value is all in the tens of billions range.
the lowest valued pharmaceutical stocks
was criticized by investors
from the perspective of rolling dividend rate,oriental yuhongas high as 9.61%,science, engineering and energy technology, c&d co., ltd., rabbit baby, meihua biotechnologythe other 10 stocks also exceeded 5%.
from a valuation perspective,c&d co., ltd.the rolling price-to-earnings ratio is only 2.23 times, ranking the lowest, followed bychinese architectureit’s only 4.41 times. "northeast medicago"changchun high-techthe latest price-to-earnings ratio is only 9.82 times; at a performance briefing this year, investors complained that "pharmaceutical stocks have the lowest valuation." even after continuous surges last week, the total market value has fallen by more than 80% from the high market value of 208.6 billion yuan in may 2021.
judging from the repurchase amount, 42 shares were repurchased for a total of 14.716 billion yuan during the year, of whichhikvision, baosteel co., ltd., china state constructionthe top three were 2.894 billion yuan, 1.367 billion yuan, and 947 million yuan respectively. in addition, the repurchase amounts of individual stocks such as poly development, yili, and hisense video also exceeded 500 million yuan.
from an industry perspective, traditional chinese medicine and biology has the largest number of stocks on the list, with 8 stocks; followed by construction materials, with 5 stocks. in addition, traditional industries such as food and beverage, public utilities, and transportation also have two or more companies.
dairy giantyili sharesin an institutional survey in september, it was stated that the company is preparing to expand the dividend ratio. in the next few years, the company will maintain a dividend rate of no less than 70%; as profits continue to grow, it is hoped that the amount of dividends will also continue to grow.
judging from the holdings of the shanghai stock exchange utilities dividend index, the top ten weights includeunited artists holdingshigh-quality, high-dividend stocks. in recent years, lianmei holdings has paid a large proportion of dividends to investors for five consecutive years, and has been shortlisted for high dividend potential stocks many times. in 2023, lianmei holdings distributed a cash dividend of 447 million yuan, accounting for 52.02% of the net profit attributable to the parent company. in addition, as of september 13, the company had completed a share repurchase of 195 million yuan.
look here for rebound pioneers
low valuation, high dividends, and stable performance may become the vanguard of this round of rebound, such asshede liquor industry, dongfang yuhong, yili co., ltd., changchungaoxin’s gains exceeded 20% last week (september 23 to 27).
the market has risen sharply in the past week, individual stocks have generally recovered, and the valuations of the above-mentioned high-quality stocks are also recovering. so, can i still follow? perhaps the answer can be found from the consensus forecasts of institutions on the upside.
in,big ginseng forestat the highest level, institutions unanimously forecast a target price of 23.91 yuan per share, with an upside potential of nearly 62%. also,hualan vaccine, changchun high-tech, jiuzhoutongthe consensus target price upside potential exceeds 30%.