三峡水利2025年度权益分派实施公告深度解读
主要内容及投资者关注要点
- 分红方案正式落地：三峡水利（证券代码：600116）董事会于2026年6月17日通过2025年度股东大会审议，宣布2025年度每10股派发现金红利0.75元（含税），即每股现金红利0.075元（含税）。
- 分红总额及股本变化：截至公告日，公司总股本为1,912,142,904股。扣除回购专用账户股份18,951,591股后，实际参与分配的股本为1,893,191,313股。实际分红总额为141,989,348.48元（含税）。
- 差异化分红机制：公司采取差异化分红，回购专用账户的股份不参与利润分配。每股现金红利按摊薄调整后为约0.0743元，除权除息参考价将按照“前收盘价-0.0743元”计算。
- 关键日期：
- 股权登记日：2026年7月29日
- 除权（息）日：2026年7月30日
- 现金红利发放日：2026年7月30日
- 分红实施细则：无限售条件流通股的红利将由中国结算上海分公司通过资金清算系统发放。未办理指定交易的股东，红利将暂由中国结算上海分公司保管，待办理后发放。
- 扣税说明：
- 自然人及证券投资基金：持股超1年免税，持股1个月以内税率20%，持股1个月至1年税率10%。
- QFII股东：代扣代缴企业所得税10%。
- 香港中央结算有限公司账户股东：代扣所得税10%。
- 其他投资者：需自行缴纳现金红利所得税。
- 未分配利润：本年度未分配利润留待以后年度分配，公司本年度不送股也不转增股本。
- 咨询方式：如有疑问，可联系董事会办公室，电话：023-63801161。
对股价的影响及投资者须关注事项
- 差异化分红及除权除息价格：除权除息参考价为“前收盘价-0.0743元/股”，可能对股价形成短期压力，但长期来看分红体现公司盈利能力及现金流充足。
- 回购股份不参与分红：回购股份不参与利润分配，实际每股分红略低于公告值，投资者需关注实际分红金额。
- 税务政策及个人实际所得：投资者因持股时间不同，实际可得现金红利将有所差异，持股超一年者可获免税收益。
- 未分配利润保留：公司未分配利润留待后续年度，有望为未来分红、资本运作提供基础。
- 资金清算及领取方式：未办理指定交易的股东需尽快办理，否则红利暂由中国结算上海分公司保管，影响资金流动性。
整体来看，三峡水利此次分红方案稳定，体现出公司良好的业绩和现金流能力。差异化分红机制及税务政策对不同股东实际收益有影响，建议投资者根据自身持股情况进行合理安排。除权除息日可能对股价形成短期影响，长期投资者可关注公司后续利润分配及业绩表现。
免责声明
本文仅为信息披露及投资参考，不构成任何投资建议。请投资者根据自身情况及风险承受能力谨慎决策，市场有风险，投资需谨慎。
Three Gorges Water Power 2025 Dividend Implementation Announcement—Investor Deep Dive
Key Points and Investor Focus
- Dividend Plan Finalized: Three Gorges Water Power (stock code: 600116) announced that its Board of Directors approved the 2025 annual dividend plan at the shareholders’ meeting on June 17, 2026. The company will distribute a cash dividend of RMB 0.75 per 10 shares (RMB 0.075 per share, pre-tax).
- Total Dividend and Share Capital Changes: As of announcement, total share capital is 1,912,142,904 shares. Excluding 18,951,591 shares in the repurchase account, actual participating share capital is 1,893,191,313 shares. Total cash dividend distributed will be RMB 141,989,348.48 (pre-tax).
- Differentiated Dividend Mechanism: The company adopts a differentiated dividend policy—shares in the repurchase account do not participate. Per-share cash dividend after dilution adjustment is about RMB 0.0743. Ex-dividend reference price will be “previous closing price – 0.0743 RMB”.
- Key Dates:
- Shareholder Record Date: July 29, 2026
- Ex-dividend Date: July 30, 2026
- Cash Dividend Payment Date: July 30, 2026
- Dividend Implementation Details: Cash dividends for unrestricted tradable shares will be distributed via China Securities Depository and Clearing Corporation (Shanghai). Dividends for investors without designated trading accounts will be held until such accounts are set up.
- Tax Policy:
- Individual shareholders & investment funds: Holding >1 year, dividend tax exempt; holding ≤1 month, 20% tax; holding >1 month to ≤1 year, 10% tax.
- QFII shareholders: 10% withholding corporate income tax.
- Hong Kong Central Clearing: 10% withholding tax.
- Other investors: Responsible for their own dividend tax according to law.
- Undistributed Profits: Undistributed profits retained for future years; no bonus shares or capital reserve conversion this year.
- Contact: For queries, contact the Board Office at 023-63801161.
Potential Price-sensitive Information for Investors
- Differentiated Dividend and Ex-dividend Price: The ex-dividend price will be “previous closing price – RMB 0.0743”, which may exert short-term pressure on share price but signals strong earnings and cash flow.
- Repurchased Shares Excluded from Dividend: Actual per-share dividend is slightly less than announced—investors need to check their actual entitlement.
- Tax Policy and Actual Receipts: Depending on holding period, actual cash dividends received may differ—holding over one year yields tax-free income.
- Undistributed Profit Retention: Retained earnings may support future dividends or capital operations.
- Dividend Collection: Investors without designated trading accounts should act promptly, as dividends will be held until accounts are set up.
Overall, Three Gorges Water Power’s dividend plan is stable and reflects robust performance and cash flow. The differentiated dividend mechanism and tax policy impact actual receipts for shareholders. Investors are advised to plan based on their holding period and account status. The ex-dividend date may affect short-term share price, but longer-term investors can focus on future performance and dividend prospects.
Disclaimer
This article is for information and reference only and does not constitute investment advice. Investors should make decisions based on their own circumstances and risk tolerance. The market carries risks; invest prudently.
