Investors pay attention toEyeofhorusmegawaysThe impact of the implementation of the new dividend rules is limitedEyeofhorusmegawaysActually, only more than 80 companies will be affected by ST
With the release of a series of supporting measures by the China Securities Regulatory Commission and the Securities Regulatory system, especially the key arrangements for the dividend regulations of listed companies, the market has ushered in a heated discussion on the new rules on dividends. The new rules aim to guide listed companies to repay investors through reasonable dividends and promote the healthy development of the market. However, the introduction of the new rules has also led to some misunderstandings and speculation.
There has been a view in the market that more than 1000 companies in A-shares will be ST because of their low dividends. However, after in-depth analysis and professional interpretation, this conclusion is not valid. The restriction of the new regulation on dividend ST is not indiscriminately implemented, but has a clear prerequisite. Only when the listed company makes a profit and the undistributed profit is positive, can it be ST because of the dividend problem. This premise effectively avoids excessive punishment for enterprises with operational difficulties or losses.
The conditions that trigger ST are not a single insufficient amount of dividends. According to the new rules, only listed companies that do not meet the proportion requirements at the same time (cumulative dividends of 30 per cent in three years, equivalent to an annual average of 10 per cent) and amount requirements (50 million yuan on the main board, 30 million yuan on the gem and Science and Technology Innovation Board) will be ST. This means that as long as the company meets one of these requirements, it will not be ST as a result. This setting fully takes into account the actual situation and dividend ability of different companies, and reflects the flexibility and rationality of the rules.
The new rules also provide special support for innovative enterprises. For those companies with large scale and high intensity of R & D investment (the cumulative R & D investment reached 300 million yuan in three years or 15% of R & D intensity), the above dividend ST rules do not apply. This exception is designed to encourage innovative enterprises to spend more money on R & D and innovation to promote scientific and technological progress and industrial upgrading.
Cash dividend is one of the most direct and effective ways for listed companies to return investors, and its importance is self-evident. The introduction of the new dividend rules undoubtedly provides a more scientific and standardized management guidance for the dividend behavior of listed companies. By defining the dividend standard, setting a reasonable threshold and providing special support for innovative enterprises, the new rules are expected to guide listed companies to pay more attention to investor returns and enhance the investment value of the market as a whole.
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