①Data shows that a total of 3,766 A-share listed companies have distributed dividends during the year; ②As of the time of writing, ICBC ranks as the stock with the highest dividend payout for 2025, amounting to RMB 1,601.69 billion; ③Attached is the list of stocks with dividend payouts exceeding RMB 10 billion in 2025 (chart).
Cailian Press reported on December 28 (edited by Li Chen) that the dividend ecosystem of the A-share market is continuously improving and upgrading. The current market’s willingness to distribute dividends is steadily increasing, and dividend-related behavioral patterns are becoming increasingly diverse, with quarterly dividends and multiple distributions per year gradually becoming more common, representing a new norm in the market. According to Choice data, as of the time of writing, a total of 3,766 listed companies have implemented cash dividends this year based on the equity registration date, with a combined cash dividend amount of RMB 2.64 trillion, setting a new record high.
In terms of dividend distribution amounts from listed companies, a total of 37 stocks distributed dividends exceeding RMB 10 billion during the year. Among them, ICBC ranked as the stock with the highest dividend distribution for the year at RMB 1,601.69 billion, followed closely by China Construction Bank with a dividend of RMB 1,493.59 billion. Agricultural Bank of China ranked third with a dividend amount of RMB 1,264.84 billion. Bank of China and China Mobile both exceeded RMB 100 billion in dividends, ranking fourth and fifth respectively. Stocks ranked sixth to tenth were PetroChina, Kweichow Maotai, China Shenhua, CNOOC, and China Merchants Bank. Specific details are as follows:
In terms of industry distribution, stocks with dividend amounts exceeding RMB 10 billion in 2025 were concentrated mainly in the banking, telecommunications, and petrochemical sectors.
As of the time of writing, ICBC remains the stock with the highest dividend payout for the year, amounting to RMB 1,601.69 billion. According to Wind data, since its listing, ICBC has conducted cash dividends 21 times, cumulatively distributing RMB 1,575.684 billion in cash dividends. On December 5, ICBC announced that its 2025 interim profit distribution plan had been approved by the shareholders’ meeting. Each A-share will receive a cash dividend of RMB 0.1414 (tax included), with the equity registration date set for December 12, 2025, the ex-dividend (rights) date on December 15, 2025, and the cash dividend payment date also on December 15, 2025. This cash dividend distribution totals approximately RMB 50.396 billion, with about RMB 38.123 billion allocated to A-shares.
China Mobile ranked fifth, with an annual dividend amount of RMB 103.6 billion. According to Wind data, since its listing, China Mobile has distributed cash dividends eight times, cumulatively amounting to RMB 376.4 billion. Recently, China Mobile, in collaboration with FiberHome Telecommunication Technologies and other manufacturers, successfully completed the first 800G live network pilot in Sichuan Province. Focused on core scenarios of inter-data center connectivity, this pilot aligns with the strategic goal of ‘breaking through low-cost high-speed mid-to-short-distance multi-wavelength coherent optical interconnect architecture and core technologies to ensure self-control in advanced optical communication,’ aiming to enhance transmission speed and network capacity. It established an OTN transmission system across four major computing nodes: Western Cloud Computing Center, Southern Hub Computing Center, Western Hub, and Xindu Data Center, leveraging 130G baud rate technology for 800G live network validation, thereby advancing the practical application of high-speed transmission network technologies.
PetroChina ranked sixth, with an annual dividend amount reaching RMB 86.02 billion. According to Wind data, since its listing, PetroChina has distributed cash dividends 36 times, cumulatively amounting to RMB 875.28 billion. According to the Tarim Oilfield branch of PetroChina, on December 24, China’s largest ultra-deep condensate gas field — PetroChina’s Bozi-Dabei gas field in the Tarim Oilfield — surpassed the milestone of producing 10 billion cubic meters of natural gas annually, while also producing 918,900 tons of condensate oil. This achievement significantly enhances natural gas supply capabilities and strengthens national energy security.
