Company to carry out the ” listing Corporation actively return investors ” theme of the campaign

From: Author: UV: 2,745 Post Time:01-24-13

The improvement of listing Corporation profit-sharing system to improve the market value of long-term investment

Listing Corporation profit distribution is an important way to investors to obtain investment income. In the report, the listing Corporation often distribution plan to disclose the board proposed, such as the cash dividend, stock dividend. In general, a listing Corporation if you can promise and higher cash dividends, which shows that it has strong profitability. From another point of view, the listing Corporation to pay more attention to the return to investors, have long-term investment value. With the development of the China Securities Regulatory Commission to strengthen the guidance and listing Corporation listing Corporation cash dividend bonus system gradually perfect, the market will gradually form a stable dividend mechanism, so that not only can maintain the stable development of the market, improve the stock market’s long-term investment value, but also very beneficial to investors to obtain a reasonable return on investment.

Mature market investors in participating investment philosophy

In the United States market as an example, the United States listing Corporation dividend has been the most main dividend payment. According to statistics, the United States listing Corporation’s cash dividend for the company net income proportion in the nineteen seventies is about 30% – 40%, up to 40% – 50% 80 years. In 19711993 years, about Usa Inc the after-tax profits 50% – 70% is used to pay dividends. Since 1993, pay dividends as high as 40% – 60%.

From the investment in the stock market to analyze, about 77% of the American investors is to accumulate pension, children education, this figure is twice as high as in china. Had a body made a survey, in 2010 to the United States of America Securities Investment Style and decision-making results show, 96% of investors think the investment is a long-term savings, 87% of the investors to buy and hold strategy, 83% of the investors do not care about short-term price volatility, short-term investors profit only 19% sold stock. As you can see, the main participants in the American market is the conservative investors, the overall characteristics of their low risk preference, their investment philosophy value more long-term holders of stock after the annual dividend or 5 years after the capital income. For most American investors, listing Corporation if regular dividends, that the listing Corporation performance is good, worthy of their long-term holders.

In recent years, Shanghai company dividends dividend to enhance the rate of increase

Historical data show, Shanghai listing Corporation bonus amount was increasing year by year. Among them, in 2008, 2011, a total of Shanghai listing Corporation dividends exceed 200000000000 yuan respectively, 300000000000 yuan. Since the end of 2011, the SFC gradually introduced measures to urge the listing Corporation to improve the dividend policy of cash dividend, listing Corporation efforts to increase again, as at the end of this year 7, this year the stock listing Corporation to achieve a total dividend of 343500000000 yuan, a record total annual cash dividend historical new high. Cash dividend listing Corporation quantity and proportion rises smoothly, by the end of 2011, for ten consecutive years into 129 listing Corporation listed for full ten years, accounted for 18.5% of the total number of listing Corporation; five consecutive years ( 2007-2011 ) dividend amount more than 5000000000 yuan in 12 companies, the dividend payment rate for five years more than 40% companies 24.

Shanghai listing Corporation whole dividend rate increased year by year. The dividend yield is the ratio between the dividend and stock price, is an important index to judge whether a stock with a value of the investment. When the stock price superior, listing Corporation dividends not much meaning, because dividends and share price compared, often less than 1%, so investors tend to care more about the fluctuation of stock price. And the stock prices become very cheap, the effect becomes important dividends. Data shows, in recent years, Shanghai A shares of listing Corporation dividend levels continue to improve, compared with the developed markets is not low, the 180 Index dividend rate rose from 1.43% in 2009 to 1.79% in 2010, to 2011 has increased to 2.58%. Over the same period, the S & P 500 dividend rate dropped to 2.11% from 1.87%, rose to 2.12%. Only in accordance with the dividend, Shanghai A shares market Blue-chip company can be expected return is higher than the one-year time deposit. Company dividend of China Petroleum, industrial and Commercial Bank of China, bank, Sinopec, China Everbright Bank, the Datong-Qinhuangdao railway, Yangtze Power and dividend ratio higher rate of more than 3%.

Improve the bonus system to improve the long-term investment value

Listing Corporation, cash dividend is an important way for investors, the stock market is a necessary condition for enhancing the attractiveness of long-term investment, also is the important foundation of capital market running smoothly. There are three meaning listing Corporation cash dividend:

One is to cultivate the value investment idea, popularization of health equity culture. Listing Corporation, cash dividend can improve the income structure of investors, the focus on listing Corporation dividend level, in order to help foster the idea of value investment, reduce speculation. Moreover, the continuous stable cash dividend mechanism can enable investors to form rational expectations of the company’s business prospects, enhance the company’s stock price volatility and the correlation, lead investors to form a stable dividend preference, popularize health equity culture.

The two is to attract long-term funds into the market, enhance market stability. Pension, enterprise annuity, insurance and provident fund and other long-term capital needs long-term stable investment returns. To encourage listing Corporation to cash dividends, can improve the stock market attractive to pension, enterprise annuity, insurance and provident fund long-term funds, long-term funds into the market scale and increase the proportion of investment, promote the stable development of the stock market, prevent the market from habitual ups and downs.

Three is the proper allocation of fund company, to protect the interests of investors. Cash dividends may reduce the internal operating cash flow, curb blind investment and expansion, the promotion of the rational allocation of the capital of the company. At the same time, outflow of cash through the true, can reduce the performance of the company fraud may enhance the authenticity of the listing Corporation, financial data, which is conducive to the protection of the legitimate rights and interests of investors.