More dividends urged
By Feng Jianmin |
August 16, 2012, Thursday
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Print Edition
Print Edition
SHANGHAI Stock Exchange yesterday said it will encourage listed companies to offer more dividends as part of China's efforts to improve the domestic stock market.
The bourse said in a draft guidance that it will compile a special index to include companies that offer dividends higher than 30 percent of net profit with annual dividend yield exceeding the three-month deposit rate. For companies offering more than 50 percent of net earnings as dividend with yield exceeding the one-year deposit rate, the exchange will facilitate procedures when companies need to raise extra fund or conduct mergers and acquisitions, the draft said.
"The guidance aims to nurture the concept of value investment, attract long-term investors, fairly allocate company capital and protect the interests of investors," it said.
The bourse said in a draft guidance that it will compile a special index to include companies that offer dividends higher than 30 percent of net profit with annual dividend yield exceeding the three-month deposit rate. For companies offering more than 50 percent of net earnings as dividend with yield exceeding the one-year deposit rate, the exchange will facilitate procedures when companies need to raise extra fund or conduct mergers and acquisitions, the draft said.
"The guidance aims to nurture the concept of value investment, attract long-term investors, fairly allocate company capital and protect the interests of investors," it said.
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