ICBC, CCB, BOC and ABC plan to begin paying interim dividends in 2024
Four of China's largest state-owned banks: Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BOC) and Agricultural Bank of China (ABC), have recently announced plans to pay interim dividends (half-yearly) beginning in 2024.
This move signals the intent and resolve of management to continuously enhance shareholder value through increased frequency of dividend payouts.
Furthermore, it also demonstrates managements' increased confidence in the strength of the bank balance sheets and the continuing profitability of the banking industry in China.
In the long run, these interim dividends may also help reduce stock price volatility by attracting more long-term income investors and institutions.
Source: AAStocks