The High Dividend Yield Of Listed Companies Is The Key That You Should Not Neglect.

At present, it is the key time point for the 2015 annual reports of listed companies.

In this regard, when listed companies frequently publish annual reports, such as dividend rate, performance growth rate and other data, will undoubtedly become the focus of market attention.

Obviously, for a listed company with a high dividend yield, if the center of its share price can show a long-term upward upward performance, it will bring a real return on investment to investors with medium and long-term shareholdings.

Up to now, a number of listed companies have published their annual reports in 2015.

However, many listed companies have shown their generosity in the listed companies that have already announced the bonus scheme.

Among them, according to the current stock price calculation, such as Agricultural Bank of China, industrial and Commercial Bank of China, construction bank, Bank of China and other listed companies, the overall dividend yield is expected to reach more than 5%, and this dividend rate level has already won the bank's fixed deposit rate of the same period, or even higher than the interest rate level of some bank financial products at the same time.

Generally speaking, the dividend rate is one of the reference indicators for medium and long term investors.

For the dividend rate, it is the ratio between dividends and stock prices. It is also an important yardstick for measuring whether an enterprise has investment value.

Thus, as a medium and long term value investor, the dividend rate has also become an important reference index for them to select stocks.

Then, does the higher dividend yield mean that the stock price of a listed company is more interesting? In fact, we can not understand the dividend rate in this way, but sometimes the high dividend yield is easy for investors to have a lot of misunderstandings.

One misunderstanding is that the high dividend yield does not mean that the stock price is more attractive.

In fact, when reviewing the annual report data of listed companies over the years, there will be a lot of public companies' generosity in dividends when the annual reports are disclosed.

It is undeniable that for some listed companies with a relatively high dividend yield, especially those with a dividend yield of more than 5%, the medium and long-term investments will be much higher than those of the banks in the same period.

However, in practice, investors should pay more attention to the corresponding investment environment.

In other words, if the market environment is a bear market or a concussion market, investors will be more vulnerable to the risk of loss when they invest in stocks with high dividend yield.

However, at this time, the loss of investors in the difference is much higher than that of listed companies.

Misunderstanding two

In the market, due to the existence of dividend tax differential policy, investors who invest in stocks with a high dividend yield may not be able to really benefit from investors who hold a period of less than 1 years.

According to the existing rules, investors who hold shares for more than 1 years will be exempted from personal income tax on dividends.

However, for investors who hold a period of 1 months to 1 years, they assume

It is 10%.

As for investors holding stocks less than 1 months, they bear 20% of the tax burden.

Thus, for investors keen on short and medium term shareholding, the dividend dividend tax is still drastic.

In another step, if investors are keen on short-term frequent operations, their tax burden is even more significant.

Therefore, in the face of high dividend yield stocks, without considering short-term stock price fluctuations,

It is still necessary to consider the length of holding time in order to avoid the risk of high tax burden caused by short holding time.

As for misunderstanding three, we must also consider the issue of ex dividend.

In fact, from a medium to long term perspective, for a listed company after tax deduction and dividend cancellation, if the stock price can not maintain a steady upward trend, even if the stock price falls into a long-term adjustment after the ex dividend, it will affect the actual income of investors.

Obviously, for the high dividend rate stocks, with the advent of the ex dividend, the effect will be low.

However, in practice, for the high dividend yield stocks, the proportion of the stock that actually fills the market after the ex dividend is very rare.

In this regard, I believe that for such stocks with high dividend yield, whether their development prospects are clear or whether their development expectations can be excavated will directly affect the performance of listed companies' stock price.

The author thinks that if the high dividend rate of listed companies is based on the long-term downturn of stock prices and even the situation of larger spreads than dividends, the dividend dividends of listed companies will not really benefit investors.