Ping An of China CSI HK Dividend ETF (03070.HK) Falls 0.19% Intraday as Big Six Banks Raise Interim Payout Ratios to 31%

NewTimeSpace News: As of 10:12 on October 14, the Ping An of China CSI HK Dividend ETF (03070.HK) fell 0.19% to a latest price of HK$42.920. The ETF has traded 9,400 shares so far today for a turnover of HK$403,592 at an average price of HK$42.935, with a turnover rate of 0.01%. It is up 1.90% so far this week. Its current net asset value per unit is HK$42.85, and its assets under management stand at HK$3.258 billion.

(Note on scope: the net asset value per unit and assets under management are as of October 13, 2026; the week-to-date change is measured against the closing price of HK$42.120 on October 9.)

On the news front, China's big six state-owned banks have raised their interim dividend payout ratios for 2026 to 31% from 30%. ICBC said on October 13 that its interim payout ratio had been lifted to 31%, with a dividend of RMB1.511 per 10 shares (tax inclusive) and a total payout of about RMB53.853 billion, the largest interim dividend among A-share banks; based on its average share price in the first half, the dividend yields on its A and H shares are 4.22% and 5.36% respectively. ICBC has paid cumulative cash dividends of RMB1.64 trillion over its 20 years as a listed company. ICBC's H shares are among the ten largest constituents of the CSI Hong Kong Dividend Index.

Ping An of China CSI HK Dividend ETF (03070.HK) closely tracks the CSI Hong Kong Dividend Index. From securities listed on the Stock Exchange of Hong Kong, the index screens for those ranking in the top 50% by average daily turnover over the past year and with average daily turnover of no less than HK$50 million, in the top 50% by average daily total market capitalisation, and with a positive cash dividend yield for three consecutive years; it then selects the 30 securities with the highest average cash dividend yield over the past three years. It is weighted by adjusted market capitalisation with a 10% cap on individual constituents and is rebalanced once a year in December. The fund primarily adopts a replication strategy, investing in substantially all index constituents in broadly the same proportions as the index.

Western Securities believes that the fiscal subsidy on residential mortgage loans, which is borne by the government, will ease pressure on banks' net interest margins in stages and spare banks from unilateral concessions, and may also marginally slow the decline in new mortgage volumes; continued disposal and structural clearing of asset-quality problems should help release legacy risks; the banking sector trades at about 0.53 times book value, in a historically low range around the 30th percentile of the past decade, with a trailing 12-month dividend yield of about 3.4% to 6.0%, well above the roughly 1.68% yield on 10-year Chinese government bonds.