CITIC Securities: The scale of dividends in June is particularly outstanding.

CITIC Securities released a research report stating that June is a key period for the concentrated release of dividends in the A-share market, and it is necessary to track the changes in fund flows and industry sentiment to seize the opportunity to allocate high dividend stocks. According to historical patterns, constrained by annual report disclosures and dividend distribution systems, the A-share market enters a peak dividend period from May to July, with June being particularly prominent. High dividend stocks become the focus of fund allocation. Industries such as finance, utilities, and energy, with stable cash flows and high dividend yields, are likely to attract long-term capital from insurance funds and pension funds seeking stable returns, driving sector-specific valuation improvements. It is important to be wary of the pressure for funds to be realized after dividend payouts. Historical data shows that some investors engage in arbitrage behavior of "positioning before dividends, and realizing profits after receiving dividends," especially when market risk appetite is low. This behavior may lead to short-term capital outflows from related individual stocks or sectors, exacerbating the pressure for stock price adjustments. It is recommended to be cautious and take risk prevention measures while seizing the opportunity to allocate high dividend stocks.