Securities Times: Mid-term dividends are becoming normalized, reshaping the market value coordinates with "quality + returns"

Recently, the implementation peak season of the 2024 annual dividend distribution has arrived. According to last year's annual reports, listed companies are enthusiastic about cash dividends, with many companies distributing cash dividends totaling more than half of the 2024 net profit attributable to the parent company. These dividend plans are being implemented intensively in the near future. As of now, the total amount of cash dividends distributed is close to 800 billion yuan, flowing into investors' accounts. At the time of the dividend distribution in the annual report, a batch of companies announced their 2025 mid-term dividend plans. In the short term, the normalization of mid-term dividends is beneficial for enhancing investors' sense of achievement. In an environment of declining risk-free rates, the distribution of real money becomes a "ballast" against market fluctuations. In the medium to long term, the mechanism of multiple dividends encourages listed companies to pay more attention to cash flow management and restrain blind investment impulses. When investors receive "cash flow checks" regularly, their holding patience and market stability will also be enhanced. Only when more companies increase their dividend frequency while simultaneously improving the quality of their operations can the capital market truly achieve stability and long-term development. This quiet and deep revolution will eventually allow the seeds of value investment to bear more fruitful results in the A-share market.