Mid-term dividend normalization, reshaping market value coordinates with "quality + return"

Recently, the implementation peak season of the 2024 annual dividend payout has arrived. Based on last year's annual reports, listed companies are actively distributing 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 has approached 800 billion yuan, flowing into investors' accounts in real money. At the time of the annual report dividend payment, a batch of companies have released their 2025 mid-term dividend plans. In the short term, the normalization of mid-term dividends is beneficial for enhancing investors' sense of gain. In an environment of declining risk-free interest rates, the distribution of real money becomes a "ballast stone" to resist market fluctuations. In the medium to long term, the multiple dividend mechanism promotes listed companies to pay more attention to cash flow management and restrain blind investment impulses. When investors can regularly receive "cash flow checks," their patience in holding stocks and market stability will also increase. When more companies increase dividend frequency in sync with optimizing business quality, the capital market can truly achieve stability and long-term growth. This quiet but deep transformation will eventually allow the seeds of value investing to bear even more fruitful results in the A-share market.