A-Share Screen Using Turnover and a Historical Dividend Threshold

Summary

The proposed A-share screen selects stocks with turnover between 3% and 12%, excludes Beijing-listed shares, and requires a dividend-related measure above 25% for 2019. Its rationale is to combine a liquidity range with a historical payout criterion, on the premise that higher distributions may indicate financial stability. The article suggests adding valuation measures or adapting criteria by sector and market conditions.

The post provides an indicator reference and a Python example, but it does not report a backtest or performance evidence. The example does not visibly implement the stated turnover range or Beijing exclusion, and its dividend field may not match the described ratio. The method relies heavily on one dated fundamental condition, can exclude growth stocks, and offers no evidence that the screen predicts future returns.

Key ideas

• The screen combines a stated turnover range with a 2019 dividend-related threshold and excludes Beijing-listed stocks.
• The author interprets higher dividends as a possible sign of stability, but provides no supporting performance analysis.
• The example code does not clearly implement all of the stated screening conditions.
• The article identifies single-factor dependence and narrow style exposure as risks.
• It proposes adding valuation measures or adapting filters by industry and market conditions.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.