本文从4只一直有分红基础但却始终未分红的开放式基金出发,对相关法规、基金合同和年报进行了研读,发现我国对开放式基金分红的监管日益具体,但《证券投资基金收益分配条款的审核指引》(2009)存在瑕疵,应予更正并向社会公众发布;一些基金合同中的收益分配条款不合规,应尽快修订;可利用税收政策和加大机构投资者比例等做法完善开放式基金分红的激励约束机制。 This article starts from 4 open-end funds which always have dividend basis but has not been allotted dividends. After studying relevant laws and regulations, fund contracts and annual reports, we find that the regulation of dividend distribution in open-end funds in our country is increasingly specific. However, (2009), which should be corrected and released to the general public. Some of the fund allocation provisions in the fund contract are not compliant and should be revised as soon as possible. The tax policy and the proportion of institutional investors can be used to improve Incentive and Constraint Mechanism of Open - end Fund Dividend.