penn515mag3| Deposit interest rates continue to fall, high dividend sectors become "hot cakes"

At a time when deposit interest rates continue to decline, the dividend yields of some sectors and stocks in the A-share market far exceed the fixed deposit rate, which has become a "hot cake" in the eyes of investors. According to statistics, as of May 13, the high dividend strategy index has risen 19% since the beginning of this year.Penn515mag3.7%, obviously outperformed the market.

Industry insiders said that since the beginning of this year, the trend of the high dividend sector shows that the dividend strategy has been obtained in the market.Penn515mag3With more widespread recognition, many institutions say they continue to be optimistic about the target of high dividends and recommend it as a bottom asset for allocation. The downward trend of deposit interest rates remains unchanged, A-share cash dividends will start a new cycle of promotion and improvement, investment logic or pay more attention to the performance of dividend yields.

The attraction is becoming more and more prominent

At present, the trend of deposit "interest rate cut" is still continuing, while the trend of the equity market is stabilizing, especially the attractiveness of some high dividend targets is becoming increasingly prominent.

Everbright Bank announced a few days ago that from May 15, if the agreed deposit rate of RMB is higher than 1.15%, the system will automatically calculate the interest and adjust the agreed interest rate to 1.15%. In addition, a number of banks have recently announced that they will stop selling large certificate of deposit products with a maturity of half a year or more. Minsheng Bank announced that from 9:00 on May 7, the bank will stop issuing products with a maturity of six months or more (including large certificates of deposit on sale), and retain only one-month or three-month certificates of deposit products with unlimited limits.

Taking five-year time deposits as an example, the reporter noticed that at present, the five-year deposit interest rates of six major state-owned banks are 2%, while those of national joint-stock banks are mostly between 2% and 2.05%, and a few are reported to be 2.3%. As of May 13, a total of 158 A-shares had a dividend yield of more than 5%, and some investors called it "more appropriate than bank deposits."

"at present, the investment value of dividend assets is still attractive and belongs to a better layout point." Tian Lihui, dean of the Institute of Financial Development of Nankai University, said, for example, that the dividend dividend low wave 100 index has a dividend yield of 5.22% in recent 12 months, which is much higher than the maturity yield of about 2.5% of ultra-long-term treasury bonds. The dividend yield of the China Securities dividend Index in the past 12 months is about 5.15%, which is still relatively attractive to the risk-free interest rate.

Resonance with stock price

Share prices in high-dividend sectors have performed well so far this year, partly reflecting investor preferences.

Take Shenwan industry classification as an example, high dividend listed companies are mainly distributed in coal, banking, petroleum and petrochemical, household appliances and other industries. On May 13, the dividend yields of the coal and banking sectors in recent December all exceeded 5%, reaching 6.41% and 5.08% respectively.

From the plate growth point of view, so far this year, investors do relatively prefer banks, coal and other high dividend sectors. As of May 13, the household appliances, banking and coal industry sectors ranked among the top three so far this year, with increases of 24.95%, 18.32% and 14.99%, respectively.

Zheng Tianxing, manager of Jingshun Great Wall Securities low volatility 100ETF Fund, said that the investment value of dividend assets exists for a long time, and the most effective observation indicator is the dividend yield. At present, the dividend yield of each dividend index is in a historically high position, and the attractiveness of dividend returns is still strong. "in the context of the increase in the overall dividend of listed companies, there will be more and more stocks with high dividend attributes." Zheng Tianxing added.

Many institutions continue to be bullish on high dividend assets and propose to allocate them as bottom assets. Chen Guo, chief strategy officer of CITIC Construction Investment Securities, said bluntly that dividend assets are still the preferred category of bottom positions; in the medium to long term, from the perspective of allocation, valuation, trading and fundamentals, the dividend market is not over. Western Securities strategist Ciwei Wei also said that as far as May is concerned, it is optimistic that the target of high dividend will be used as a bottom asset.

Dividend strategy is expected to be the main line of investment.

The high dividend shows that the relevant listed companies are sound in operation and have the ability to pay dividends, especially for long-term investors. A number of institutions said that they will pay more attention to the relevant targets in the investment logic in the future.

On the one hand, actively respond to the requirements of the new "National Nine articles" cash dividend, A-share cash dividend will start a new round of promotion and improvement cycle, the increase in the proportion of dividends at the company level is also expected to promote the endogenous promotion of dividend assets dividend yield. The dividend pattern of A shares is expected to change, and the investment scope of the dividend strategy will be expanded.

Yan Yang, manager of the ETF Fund for shareholder returns of Huidianfu Central Enterprises, believes that the new "National Nine articles" put forward higher requirements for dividends of listed companies. Under the guidance of policies, the ecology of the A-share market will be significantly improved, listed companies will pay more attention to shareholder returns, and investors will pay more attention to the investment value of enterprises with high dividends. At the same time, in view of the changes in the long-term economic and social environment, the investment logic pays more attention to the dividend yield, and the dividend strategy is expected to become the main line of investment this year and for a long time to come.??

On the other hand, Guolian Securities and other institutions analyze that in a low interest rate environment, investors' expected return on assets is generally lower, and the attractiveness of mature listed companies with high dividends and steady dividends will gradually increase. High dividend assets are expected to become new core assets in the future.

In addition, experts warn that high dividend sectors still have allocation value, but we should also be wary of the risk that some stocks rise too fast in the short term and lead to a rapid decline in dividend yields.

Tags：

Article Copyright Statement: Unless otherwise specified, all articles are jiliasia16 com original. Reproduction or reproduction should be in the form of hyperlinks and indicate the source.