high-dividend-strategy
Original：🇨🇳 Chinese
Translated
Analyze high-dividend strategies in A-shares, evaluate the sustainability of returns and long-term returns of dividend stocks. This skill is used when users ask about high-dividend stocks, dividend strategies, A-share dividend analysis, cash dividend coverage ratio, CSI Dividend Index components, dividend yield rankings, or long-term income-oriented investments.
14installs
Sourcegeeksfino/finskills
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NPX Install
npx skill4agent add geeksfino/finskills high-dividend-strategyTags
Translated version includes tags in frontmatterSKILL.md Content (Chinese)
View Translation Comparison →High-Dividend Strategy Analyzer
Act as a dividend-focused portfolio manager. Analyze high-dividend stocks in the A-share market, evaluate dividend sustainability, long-term total returns, and income stability.
Workflow
Step 1: Define Parameters
Confirm with the user:
- Analysis Scope — CSI Dividend Index components, SSE Dividend Index, full market screening, or custom list
- Backtesting Period — Default: 5-year return analysis (A-share dividend history is relatively short, data for over 10 years is limited)
- Number of Results — Default: Top 10 stocks
- Ranking Priority — Dividend yield, dividend growth, sustainability, total return, or comprehensive score
- Sector Preference — Whether to prefer beneficiaries of SOE reform
Step 2: Calculate Core Metrics
Calculate the following metrics for each candidate stock. For detailed calculation methods, refer to references/calculation-methodology.md.
| Metric | Calculation Method |
|---|---|
| 5-Year Total Return | Stock price change + accumulated cash dividends (assuming dividend reinvestment) |
| Current Dividend Yield | Cash dividends per share in the past 12 months / current stock price |
| Dividend Growth Rate | 5-year compound annual growth rate of dividends per share |
| Dividend Payout Ratio (Profit-based) | Dividends per share / earnings per share |
| Dividend Payout Ratio (Cash Flow-based) | Total cash dividends / free cash flow |
| Free Cash Flow Coverage | Free cash flow / total cash dividends |
Step 3: Evaluate Dividend Sustainability
Assess whether dividends can be sustained or increased:
| Dimension | Evaluation Content |
|---|---|
| Room for Profit-based Dividend Payout Ratio | Dividend payout ratio < 70% (can be relaxed to 80% for utilities/banks) |
| Free Cash Flow Coverage | Free cash flow coverage of dividends ≥ 1.3x |
| Asset-Liability Ratio | Reasonable liability level, no dividend payment through borrowing |
| Earnings Stability | Low earnings volatility, strong anti-cyclical capability |
| Dividend History | Number of consecutive dividend years, clarity of dividend policy |
| Catalysts from SOE Reform | Degree of benefit from SASAC's requirements to increase dividend ratios |
For detailed scoring criteria, refer to references/calculation-methodology.md.
Step 4: Ranking
Rank based on comprehensive scores:
| Factor | Weight (Comprehensive) | Weight (Income-oriented) | Weight (Growth-oriented) |
|---|---|---|---|
| 5-Year Total Return | 25% | 15% | 30% |
| Current Dividend Yield | 20% | 30% | 10% |
| Dividend Growth Rate | 20% | 15% | 30% |
| Sustainability Score | 25% | 30% | 20% |
| Valuation Level (PE/PB) | 10% | 10% | 10% |
Step 5: Present Results
Present in a structured report, format refers to references/output-template.md:
- Executive Summary — Overview of A-share dividend market, interest rate environment, key findings
- Methodology — Analysis scope, time period, reinvestment assumptions, ranking weights
- Stock-by-Stock Analysis — Complete analysis for each stock
- Comparison Table — Horizontal comparison of all metrics
- Income Calculation — Forecast of future dividend income assuming a RMB 100,000 investment
- Risk Warnings
Data Enhancement
For real-time market data to support analysis, please use the Financial Data Toolkit skill (). This toolkit provides functions such as real-time A-share quotes, financial indicators, insider share increases/decreases, northbound capital, macroeconomic data, etc. All data sources are free and require no API key.
findata-toolkit-cnImportant Notes
- A-share Dividend Characteristics: Most companies only distribute dividends once a year (after annual reports), a few distribute semi-annual dividends. Different from the quarterly dividend habit in US stocks.
- Bonus Shares/Transfer of Capital Reserves ≠ Cash Dividends: Bonus shares and transfer of capital reserves do not generate cash income, only increase the number of shares. This analysis only focuses on cash dividends.
- Holding Period Tax Rate: The dividend tax rate for individual investors in A-shares is linked to the holding period — tax-free for holding over 1 year, 10% tax for holding 1 month to 1 year, 20% tax for holding less than 1 month. A long-term holding strategy can significantly improve after-tax returns.
- SOE Dividend Reform: SASAC has continuously promoted central SOEs/local SOEs to increase their dividend payout ratios to over 30% in recent years, which is a policy catalyst that structurally benefits dividend strategies.
- High-Dividend Trap: A high dividend yield may be caused by a sharp drop in stock price rather than generous dividends. Must be combined with sustainability analysis.
- Interest Rate Environment: A low-interest rate environment (low deposit rates, low wealth management yields) is a macro benefit for high-dividend strategies, but dividend stocks may underperform when interest rates rise.
- Industry Concentration: A-share high-dividend targets are concentrated in industries such as banking, coal, utilities, petrochemicals, etc. Need to be alert to concentration risk.