The way listed companies should return to shareholders to "adapt to the stock system". For companies that are lower than net assets, it is the best way to repurchase shares and cancel or cash dividends. For high -growth companiesIt is better for ST stocks. For ST stocks, it is most favorable to actively introduce new controlling shareholders. For cash cow companies, it is the most secure way to seriously dividends and not engage in new investment.
Listed companies want to return to shareholders, but the way to return shareholders is not the same. For different companies and shareholders, they have different expectations, so it is the best to truly meet the needs of shareholders.Good return to shareholders.
For low -priced high -quality blue -chip stocks represented by large bank stocks, some stock prices are much lower than the net asset value per share.Or, or long -term stable high cash dividends can have the effect of increased shareholders value.And most investors who buy and hold these stocks are long -term value investors. What they want to obtain is the value improvement of long -term stable shareholders. The best return method is to repurchase shares and cancel. The second is long -term stable cash dividendEssence
But for high -growth stocks, investors buy these companies stocks, the most urgent demands in the short -term are not to hope that the company will make cash dividends, but to hope that the company can be able to faster quicklyDevelopment, I hope that the company’s products and services will get more market share, so these companies should not make too many companies profits for cash dividends or repurchase shares. Instead, they should retain as much cash as much as possible to reinvest.Create value again.And the stock price of such companies is generally relatively high, so investors are more interested in high -delivery transfer. They will be welcomed by investors with capital provident fund to increase share capital or issue red stocks.
Even if it is a ST company, there are ways to return to shareholders.For ST stocks, investors have no expectations for cash dividends, repurchase shares or high transfer, but investors also look forward to listed companies to return shareholders.If the company can turn a profit through the asset reorganization, the stock price will naturally rise sharply. Therefore, But it is not possible.
There is also a class of companies that are more special, that is, cash cow companies. Shareholders of these companies do not want the company to invest in new fields and various hotspots. Shareholders want the company most.Adhere to the main business, continuously produce and operate in industries with advantages, create cash profits, and then return to shareholders through the form of cash dividends. If such companies do multiple operations and diversified development, they will not meet the expectations of shareholders.Make money, and then make most of the profits with cash dividends, which is the best return to shareholders.
Of course, each company has its own different characteristics, and the way of returning shareholders in the listed company is not the same. Some companies have also distributed physical benefits to shareholders, which is also a good return.Shareholders.In short, the way listed company "adapting to stock systems" to formulate shareholders is the most scientific way.
Beijing Business Daily commentator Zhou Keguo
