Photo: AFP
According to present rules, offshore ownership of A-share listed firm cannot exceed 30%. Photo: AFP

Nearly 3,000 listed companies in Shanghai and Shenzhen are expected to make cash dividends for 2017, an amount exceeding 1.1 trillion yuan (US$175.17 billion) for the first time, Economic Information Daily reported.

According to the calculation of WIND, there were 411 companies which completed a total 113.48 billion yuan in cash dividends in 2017.

At least another 2,414 companies’ dividend plans are still in the stage of board meeting planning or shareholder meeting voting, involving a total 1,002.44 billion yuan.

In the Shanghai stock market, 37.92% of the companies launched cash dividend plans in 2017, which is about five percentage points higher than a year earlier.

While on the Shenzhen stock market, 76.86% of the listed firms have planned to distribute a total 319.985 billion yuan, a rise of 62.22%.

The significant increase in the level of cash dividends of A-share listed companies is largely related to vigorous promotion from the securities regulator.

The China Securities Regulatory Commission has continued to conduct interviews with companies that did not pay dividends for three consecutive years.