This article analyzes the present situation of dividend distribution of listed banks in China based on the 2010-2013 panel data, the results show that some of the listed banks do not pay dividend, but the proportion is small, the dividend payment rate is generally low but the state-controlled banks often have a higher rate. Then the article analyzes the factors affecting dividend policy of listed banks by using empirical method, and finds that profitability and liquidity of assets have a positive effect on the dividend payment rate, debt levels have a negative effect on the dividend payment rate, and the growth ability and operation ability have no significant effect on the rate of dividend payment.
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