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2025-6-32.10主要水电公司分红派息情况表:主要水电公司分红稳步提升国泰海通证券2025中期策略会每股分红(元)分红比例(%)股息率(%)PE(倍)PB(倍)总市值(亿元)202120222023202420212022202320242021202220232024TTM 2025E 2026ELF长江电力 0.820.850.820.9471%94%74%71% 3.6% 4.1% 3.5% 3.2%华能水电 0.170.180.180.2052%46%42%43% 2.6% 2.7% 2.1% 2.1%国投电力 0.160.280.490.4650%50%55%55% 1.4% 2.5% 3.8% 2.7%川投能源 0.400.400.400.4057%51%44%43% 3.2% 3.3% 2.6% 2.3%桂冠电力 0.150.200.200.2187%49%77%41% 2.3% 3.5% 3.6% 3.0%湖北能源 0.150.060.090.1042%34%33%36% 2.9% 1.4% 2.1% 2.0%黔源电力 0.200.300.190.1626%31%31%31% 0.9% 2.0% 1.4% 1.0%2221191721222621201617201221201815161811133.53.01.91.93.00.91.773891813125482151030268注:股息率以当年年末股价计算,预测PE来自万得一致预期,总市值计算日期为2025/5/30资料来源:Wind,HTI测算请参阅附注免责声明20