Rate Of ReturnSummary of Shareholder Returns for Chinese Concept Stocks in 2024 - Dividends + Buybacks (40 companies)
Last year, we collected shareholder return data (dividends + buybacks) for 35 Chinese concept stocks in 2023. This year, we expanded the sample to 40 companies, hoping this will be helpful for those interested in corporate shareholder returns.
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Explanation
1. This article primarily analyzes the amount and rate of shareholder returns from buybacks and dividends by 24 Chinese concept stock companies in 2024. This return rate is unrelated to stock price fluctuations or company fundamentals.
2. Shareholder return amount = annual buyback amount + annual dividend amount. Dividends are counted in the year they are ex-dividend.
3. Shareholder return rate = share reduction ratio + dividend yield. The share reduction ratio = buyback ratio - share issuance ratio.
4. Dividend yield calculation standard:
Based on the stock price at the beginning of 2024, the total annual dividend per share is divided by the initial price. For example, if a stock was bought at $10 at the beginning of 2023 and received $2 in dividends by year-end, the dividend yield for that year would be 20%.
5. The 40 companies include U.S. and Hong Kong-listed stocks. For Hong Kong companies, stock prices, dividends per share, and total dividends are converted to USD for consistency in charts.
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Dividend Rankings
Unit: USD per share, USD 100 million in dividends, USD stock price.
Among the 40 Chinese concept stocks analyzed, 26 paid dividends in 2024, totaling $15.37 billion USD, lower than last year's $25.4 billion USD. The primary reason is Tencent's $16 billion USD distribution of Meituan shares in 2023. Excluding this factor, 2024 dividends increased significantly compared to 2023.
In terms of dividend amounts, five companies paid over $1 billion USD: Tencent ($4.077 billion), Alibaba ($4 billion), NetEase ($1.56 billion), BYD ($1.27 billion), and JD.com ($1.2 billion).
Regarding dividend yields, 11 companies had yields exceeding 5%. The top five were Douyu (102.7%), Huya (47.5%), Noah Holdings (15.3%), Xiaoying Technology (9.3%), and Momo (7.8%). The exceptionally high yields of Douyu and Huya were mainly due to special dividends.
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Buyback Rankings
Unit: USD 100 million, 100 million shares.
Among the 40 Chinese concept stocks analyzed, 31 conducted buybacks in 2024, totaling $41.85 billion USD, far exceeding last year's $23.3 billion USD.
Top five by total buyback amount in 2024:
Tencent ($14.53 billion), Alibaba ($11.9 billion), JD.com ($3.65 billion), Meituan ($3.61 billion), NetEase ($1.23 billion).
Top five by share cancellation ratio in 2024:
Xiaoying Technology (17.8%), Qudian (16.0%), Joyy (15.1%), Momo (13.7%), Qifu Technology (12.0%).
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Share Capital Change Rankings
Top five by share reduction ratio:
Qudian (15.9%), Xiaoying Technology (14.6%), Joyy (14.5%), Momo (12.5%), Qifu Technology (9.9%).
Overall, the 2024 data shows that share issuance ratios were generally lower than in 2023, while buyback cancellation ratios were higher. This is mainly because companies raised less capital through share issuance in 2024, and many companies increased buybacks due to lower stock prices.
Note: Tencent Music's buyback ratio was about 1.49%, but its total shares decreased by 9.74%. The reason for this discrepancy is unclear.
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Shareholder Return Rankings
Note: Amounts in USD 100 million.
Among the 40 Chinese concept stocks analyzed, 36 conducted buybacks or paid dividends in 2024, totaling $57.2 billion USD, higher than last year's $48.7 billion USD (or $32.7 billion USD excluding Tencent's $16 billion USD Meituan distribution). The data shows that shareholder returns in 2024 were significantly higher than in 2023.
Top five by shareholder return amount:
Tencent ($18.61 billion), Alibaba ($15.9 billion), JD.com ($4.85 billion), Meituan ($3.61 billion), NetEase ($2.79 billion).
Top five by shareholder return rate:
Douyu (108.4%), Huya (50.9%), Xiaoying Technology (23.9%), Momo (20.3%), Qifu Technology (17.4%).$TENCENT(00700.HK) $BABA-W(09988.HK) $MEITUAN(03690.HK)
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