With low valuations and frequent high dividends, dividend assets have significant allocation value, and the S&P Dividend ETF is consolidating after a pullback

On March 11th, by the end of the morning session, the S&P Dividend ETF fell by 0.56%, with a transaction volume of 11.6661 million yuan. The constituent stocks showed mixed performance; on the upside, Chongqing Department Store led the gains; on the downside, Aopu Technology led the declines. Dongxing Securities stated that with economic transformation and policy support, the industry's decision-making model is shifting from relying on capital expenditure to drive net profit growth to focusing on the return on investment in terms of input-output. The pricing mechanism of the capital market will shift from solely relying on net profit as a single indicator to placing more emphasis on free cash flow that reflects shareholder returns, leading to a revaluation of cyclical stocks. Dividend assets benefit from a high dividend yield, and coal, as a representative of stable high dividends, plans to increase the frequency of dividends, making it still suitable as a solid foundation for investment returns, especially worthy of key allocation