China Life Insurance Co (HKSE:02628) Dividend Payout Ratio: 0.15 (As of Jun. 2026) — 35% Below Median

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HKSE:02628 China Life Insurance Co Ltd HKSE:02628
67 GF Score
Price HK$29.98
GF Value HK$34.22
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is China Life Insurance Co Dividend Payout Ratio?

China Life Insurance Co HKSE:02628 -0.66% 67 Dividend Payout Ratio is 0.15 as of Jun. 2026, which is 35% below its 10-year median of 0.23. GuruFocus rates HKSE:02628 with a GF Score™ of 67/100 and a GF Value™ of HK$34.22 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 331 Insurance companies, China Life Insurance Co ranks better than 96.07% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. China Life Insurance Co's Dividend Payout Ratio for the months ended in Jun. 2026 was 0.15.

The historical rank and industry rank for China Life Insurance Co's Dividend Payout Ratio or its related term are showing as below:

HKSE:02628' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.07   Med: 0.23   Max: 0.64
Current: 0.1

During the past 13 years, the highest Dividend Payout Ratio of China Life Insurance Co was 0.64. The lowest was 0.07. And the median was 0.23.

HKSE:02628's Dividend Payout Ratio is ranked better than
96.07% of 331 companies
in the Insurance industry
Industry Median: 0.38 vs HKSE:02628: 0.10

As of today (2026-09-02), the Dividend Yield % of China Life Insurance Co is 3.22%.

During the past 13 years, the highest Trailing Annual Dividend Yield of China Life Insurance Co was 3.25%. The lowest was 0.45%. And the median was 1.66%.

China Life Insurance Co's Dividends per Share for the months ended in Jun. 2026 was HK$0.71.

During the past 12 months, China Life Insurance Co's average Dividends Per Share Growth Rate was 9.20% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 1.90% per year. During the past 5 years, the average Dividends Per Share Growth Rate was -1.80% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 8.40% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of China Life Insurance Co was 71.00% per year. The lowest was -41.50% per year. And the median was 0.00% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

China Life Insurance Co (HKSE:02628) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

China Life Insurance Co Dividend Payout Ratio Related Terms

China Life Insurance Co Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for China Life Insurance Co's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

China Life Insurance Co Dividend Payout Ratio Chart

China Life Insurance Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.27 0.38 0.15 0.17 0.13

China Life Insurance Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.05 0.00 0.00 0.00 0.15

HKSE:02628 vs MET, AFL, PRU: Dividend Payout Ratio Comparison

For the Insurance - Life subindustry, China Life Insurance Co's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

China Life Insurance Co Dividend Payout Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, China Life Insurance Co's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where China Life Insurance Co's Dividend Payout Ratio falls into.


HKSE:02628
67GF Score
China Life Insurance Co Ltd HKSE:02628
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

China Life Insurance Co Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

China Life Insurance Co's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2025 )/ EPS without NRI (A: Dec. 2025 )
=0.761/ 6.032
=0.13

China Life Insurance Co's Dividend Payout Ratio for the quarter that ended in Jun. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Jun. 2026 )/ EPS without NRI (Q: Jun. 2026 )
=0.712/ 4.708
=0.15

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.15 mean?
China Life Insurance Co (HKSE:02628) has a Dividend Payout Ratio of 0.15 as of Jun. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on China Life Insurance Co and its competitors. This is 35% below median its historical median of 0.23. Over the past decade, China Life Insurance Co's Dividend Payout Ratio has ranged from 0.07 to 0.64. According to the industry distribution chart, China Life Insurance Co ranks #13 out of 331 companies in the Insurance industry, placing it in the top 3.9%.
Is China Life Insurance Co's Dividend Payout Ratio too high?
China Life Insurance Co's current Dividend Payout Ratio of 0.15 is 35% below median its 10-year median of 0.23. Over the past 10 years, this metric has ranged from a low of 0.07 to a high of 0.64. The Insurance industry median Dividend Payout Ratio is 0.38. China Life Insurance Co's value of 0.15 is 60.5% below this industry median. Based on the distribution chart, China Life Insurance Co ranks #13 out of 331 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, China Life Insurance Co has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Life Insurance Co's Dividend Payout Ratio compare to MET and AFL?
According to the Insurance industry distribution chart, China Life Insurance Co ranks #13 out of 331 companies for Dividend Payout Ratio. This places China Life Insurance Co in the top 4% of its industry — outperforming the majority of peers. The industry median Dividend Payout Ratio is 0.38. China Life Insurance Co's value of 0.15 is 60.5% below this benchmark. Historically, China Life Insurance Co's own Dividend Payout Ratio has ranged from 0.07 to 0.64 over the past decade. While the company's 10-year median is 0.23 vs. the industry median of 0.38, China Life Insurance Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for an Insurance company?
The median Dividend Payout Ratio among Insurance companies is 0.38, based on 331 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. China Life Insurance Co's current Dividend Payout Ratio of 0.15 is 60.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on China Life Insurance Co and its competitors. For the Insurance industry, the median Dividend Payout Ratio is 0.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Life Insurance Co's current Dividend Payout Ratio is 0.15, which is 35% below median its own 10-year median of 0.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Life Insurance Co stock overvalued right now?
Based on GuruFocus' analysis, China Life Insurance Co (HKSE:02628) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$34.22, compared to a current price of HK$29.98 — trading 12.4% below its estimated fair value. The current Dividend Payout Ratio is 0.15, which is 35% below median its 10-year median of 0.23 and 60.5% below the Insurance industry median of 0.38. China Life Insurance Co's overall GF Score™ is 67/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For China Life Insurance Co (HKSE:02628), the current Dividend Payout Ratio is 0.15 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is China Life Insurance Co (HKSE:02628) Overvalued in 2026?

Based on GuruFocus' analysis, China Life Insurance Co stock appears to be undervalued. The current stock price of HK$29.98 is trading 12.4% below its estimated GF Value™ of HK$34.22. GuruFocus considers China Life Insurance Co to be Modestly Undervalued.

Key valuation signals for HKSE:02628:

  • Dividend Payout Ratio: 0.15 (35% below median its 10-year median of 0.23)
  • GF Value™: HK$34.22 vs. price of HK$29.98 (12.4% below fair value)
  • GF Score™: 67/100 with 2 warning signs
  • Industry Position: 60.5% below the Insurance median (#13 of 331)

No single metric tells the full story. See the HKSE:02628 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

China Life Insurance Co Business Description

Address 16, Financial Street, Xicheng District, Beijing, CHN, 100033
As the largest life insurance company in China, China Life commands about 16% market share by end-2024. The firm offers group and individual life insurance through exclusive agents, bancassurance, and other marketing platforms. While the bulk of profits stem from life insurance policies, additional operations include short-term policies such as accident and health insurance. The company is focusing on building a senior-care ecosystem and reforming a new agent team for long-term growth.
67GF Score

Get the complete analysis for HKSE:02628

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$29.98
Price
HK$34.22
GF Value