Chinese companies rush to hike dividends

By Reuters

May 31, 2024 12:13 am

SHANGHAI/HONG KONG – Chinese listed companies are rushing to buy back shares and lift dividends as they respond to regulators' calls that echo reform efforts in Japan and South Korea, driving a welcome rally even if investors doubt that broader governance changes are afoot.

China-listed firms announced record cash dividends totaling 2.2 trillion yuan ($300 billion) for 2023 despite a fall in combined profit, official data shows. Over 100 listed companies returned money to investors for the first time.

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