(Yicai) May 6 -- The total amount of cash dividends paid by Shenzhen-listed companies reached a new record high of CNY466.2 billion (USD64.4 billion) last year after the implementation of higher regulatory requirements.

Over 1,950 companies listed on the Shenzhen Stock Exchange cashed out dividends last year, equal to nearly 70 percent of the total, which was also a new record, Yicai calculated from their latest annual reports. The total dividend amount increased almost 19 percent from 2022.

The top 10 Shenzhen-listed companies by dividend amount last year handed investors more than CNY125 billion, accounting for 27 percent of the total. Power battery giant Contemporary Amperex Technology, home appliance titan Midea Group, and distiller Wuliangye Yibin ranked top three.

CATL’s dividend plan totaled CNY22.1 billion (USD3.1 billion) last year, with a dividend payout ratio of around 50 percent. Midea and Wuliangye had cash dividend schemes of CNY20.8 billion and CNY18 billion, respectively. Their dividend payout ratios were about 60 percent.

Shenzhen-listed joint-stock Ping An Bank ranked fourth with a dividend plan of CNY14 billion, up 152 percent from the year before. The lender’s dividend payout ratio jumped to 30 percent from 12.2 percent in the period. Gree Electric Appliances ranked fifth, as the white goods giant said it would pay CNY13.1 billion in dividends.

New energy vehicle manufacturer BYD and safety equipment supplier Hikvision Digital Technology also released relatively high dividend payout schemes of CNY9 billion and CNY8.4 billion, respectively.

Last December, the China Securities Regulatory Commission announced new regulations to raise requirements on Chinese mainland-listed companies’ cash dividends.

On April 30, the SZSE released a revised version of its regulations dictating that listed companies that reported annual profits and cash surpluses but have not paid dividends for many years or have paid dividends for a total amount under a certain threshold will receive the Special Treatment risk warning to urge them to pay dividends to investors.

An ST risk warning is not a *ST delisting risk warning, as it is not a serious offence, a staffer at the SZSE recently told the media.

Editors: Tang Shihua, Futura Costaglione