Original title: 1 yuan per share!See also the nearly 10 billion-level dividend distribution plan of insurance companies. The annual dividends of the five listed insurance companies total nearly 83 billion yuan.
followingPing AnAfter completing the distribution of cash dividends,China Pacific InsuranceThe 2021 dividend distribution has also started.
China Pacific Insurance announced on June 30 that the 2021 profit distribution will be based on the company’s total share capital of about 9.62 billion shares before the implementation of the plan, and a cash dividend of 1 yuan per share will be distributed, with a total cash dividend of about 9.62 billion yuan. The equity registration date is July 8, and the cash dividend distribution date is July 11.
According to the statistics of Chinese reporters from securities companies, if the 2021 profit distribution plan has been approved by the general meeting of shareholdersChina Life Insurance、PICCandNew China InsuranceIn 2021, the five major A-share listed insurance companies will distribute a total of about 82.9 billion dividends.
CPIC will distribute 9.62 billion yuan in dividends in 2021
According to the annual report, CPIC distributed a total of 9.62 billion yuan in cash dividends in 2021, with a dividend ratio of 35.9%, lower than 50.9% and 39.2% in 2020 and 2021.
However, the 2020 CPIC dividend itself is at the highest level of the company’s dividend levels over the years. The annual dividend includes an annual dividend of 1.2 yuan per share and a 30th anniversary special dividend of 0.1 yuan per share, with a total dividend level of 50.9%. If the special dividend is excluded, the decline is 16.67%.
In recent years, CPIC has maintained a steady and rising dividend level. Wind data shows that CPIC went public in 2007, and has realized cash dividends 15 times since its listing, with a cumulative cash dividend of 89.266 billion yuan.
Regarding the decline in the dividend ratio in 2021, CPIC President Fu Fan explained at the previous CPIC 2021 results conference that there are two main reasons:
First, after the implementation of the second phase of C-ROSS this year, it will have a certain impact on the solvency adequacy ratio of major insurance subsidiaries. The company has made appropriate adjustments to the 2021 dividend from a prudent perspective; second, the group is actively promoting the company’s “14th Five-Year Plan”. “Strategic layout, including investment and investment in big health, big data, etc., as well as strategic layout for key areas such as the Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, and Beijing-Tianjin-Hebei.
“Therefore, not only to support the current business development, but also to cultivate new economic growth points in the future, it is necessary to leave a certain space for the use of the group’s capital.” Fu Fan said.
Fu Fan said that judging from the 30-year development history of CPIC, the company has always attached great importance to the reasonable return of investors. The company’s dividend rate and dividend rate have maintained a high level in the industry for a long time. This year, the company’s dividend rate and dividend rate are still in the first echelon of the industry. The company will continue to maintain the continuity and stability of the dividend policy, and on the basis of taking into account sustainable development and meeting regulatory requirements, fully consider the interests of investors, and reasonably determine the level of cash dividends. “
A-share five insurance companies will distribute dividends of 82.9 billion
Before China Pacific Insurance, China Ping An had already implemented dividend distribution.
2021,Ping AnA cash dividend of RMB 1.50 per share (tax included) will be distributed to all shareholders based on the total share capital registered on the A-share equity registration date at the end of 2021 after deducting the balance of A-shares in the special account for repurchase at that time.
On June 20, Ping An of China completed the implementation of the 2021 annual dividend distribution. If the interim dividend is included in the cash dividend of 0.88 yuan per share, Ping An will distribute a cash dividend of 2.38 yuan per share to shareholders in 2021, a year-on-year increase of 8.2%. The total dividend is about 431 100 million. It is worth mentioning that this is the 10th consecutive year that Ping An has increased its cash dividends.
The 2021 profit distribution plan was also reviewed and approved at the shareholders’ general meeting held recently by China Life, PICC and New China Insurance.
China Life InsuranceIn 2021, it is planned to distribute a cash dividend of 0.65 yuan per share (tax included) to all shareholders.As of December 31, 2021, China Life has issued 28.265 billion shares, and based on this calculation, the proposed cash dividends total about 18.372 billion yuan (tax included). In 2021, China Life’s total cash dividends accounted for 36% of the net profit attributable to shareholders of the parent company in the consolidated financial statements.
according toPICCIn the profit distribution plan, it is proposed to distribute a cash dividend of 1.47 yuan (tax included) for every 10 shares. Based on the total share capital of 44.224 billion shares, a total of 6.501 billion yuan (tax included) is proposed to be distributed in cash dividends. In 2021, PICC’s consolidated net profit attributable to the parent company will be 21.638 billion yuan, and the dividend ratio will reach 30.04%. In addition to the 2021 semi-annual dividends distributed (0.17 yuan in cash dividends per 10 shares, a total of 752 million yuan), the full-year dividends in 2021 will be 1.64 yuan in cash dividends per 10 shares, and the total cash dividends will be distributed about 7.253 billion yuan. The cash dividend ratio is 33.5%.
New China InsuranceIt is proposed to distribute a cash dividend of 1.44 yuan per share (tax included) to all shareholders, which is about 4.492 billion yuan in total based on the company’s 3.12 billion issued shares.
The profit distribution ratios of each insurance company are not exactly the same, but they have maintained a good level of dividends on the premise of considering sustainable development.
The basis of PICC’s profit distribution plan is to formulate the company’s profit distribution plan based on factors such as the solvency adequacy ratio of the company and its subsidiaries, business development and demand, operating performance, and shareholder returns. Under the premise of considering the above factors and complying with laws, regulations and regulatory requirements, the company’s annual distribution of profits in cash shall not be less than 10% of the distributable profits realized in the year.
Ping An of China is based on the company’s long-term and sustainable development. On the basis of a comprehensive analysis of the operating environment of the financial industry, the characteristics of financial groups’ capital needs, the requirements of domestic and overseas shareholders, the external financing environment, capital costs and regulatory policies, the company fully considers the current and future business development, profit scale, investment capital needs, solvency or capital adequacy ratio of the Group and its subsidiaries, etc.
Insurance stocks see tug-of-war
Affected by factors such as the new crown epidemic and the deep transformation of the industry, the overall performance of insurance stocks has been sluggish since last year. However, as the results of the industry transformation began to appear, and in the context of the overall recovery of A shares recently, the oversold sector has shown the characteristics of compensating gains. But overall, insurance stocks are still low.
In terms of performance, the transformation of life insurance is still on the way, and the auto insurance market has entered a new journey.
The data shows that in the first five months of 2022, the life insurance business performance of five A-share listed insurance companies has increased or decreased, of which: PICC Life Insurance increased by 16.8%, CPIC Life Insurance increased by 5.1%, New China Insurance increased by 5%, and China Life Insurance decreased by 1.9% , Ping An Life Insurance and health insurance business fell 2.5%.
The gradual implementation of the transformation of the agent channel, the hot sales of large-scale products and the development of the bancassurance channel may be the main reasons for the improvement of premiums in May. However, affected by factors such as changes in domestic and foreign economic conditions and repeated epidemics, there is still considerable pressure on the growth of new business value of life insurance.
In terms of property insurance, the adjustment impact of the comprehensive reform of auto insurance has basically been released after a year of gradual digestion. At present, the comprehensive reform and adjustment of auto insurance has basically ended, and the auto insurance market has entered a new stage of development. However, comprehensive factors such as the continued spread of the epidemic and changes in policyholders’ willingness to insure will still bring a lot of pressure to the property insurance market this year.
According to the analysis of Haitong International Non-bank Weekly Report, the new life insurance premiums have improved significantly since March, and the development of the health care industry is still optimistic in the medium and long term; the yield of 10-year treasury bonds has dropped below 2.8%. Continued upward trend, the pressure on the asset side is expected to ease.
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Responsible editor: Song Yuanjun