-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Markets -> 
Sinopec offers record dividend as fuels boost profit
    2018-03-27  08:53    Shenzhen Daily

SINOPEC Corp., the world’s biggest refiner, will pay a record-high dividend as its massive fuels and chemical segments helped boost annual profit about 10 percent.

The Hong Kong and Shanghai-listed firm will raise spending by 17.7 percent this year after yesterday posting its best annual earnings since 2013.

The company, officially known as China Petroleum and Chemical Corp., said net income rose by 10.1 percent year on year to 51.1 billion yuan (US$8.10 billion) in 2017, while revenues climbed 22.2 percent to 2.36 trillion yuan as oil prices advanced.

The company proposed a 0.5 yuan per share total dividend payout for 2017, the most since its listing in 2000.

Fourth-quarter net profit, however, came in at 12.746 billion yuan, down 26.1 percent year on year, according to calculations.

In a statement to the Shanghai Stock Exchange, Sinopec said it had allocated 117 billion yuan in capital expenditure for 2018, up from an actual spend of 99.38 billion yuan last year.

That includes a 55 percent hike in upstream spending to 48.5 billion yuan, as China’s biggest refiner looks to make the most of a rally in oil prices since early February to more than US$70 a barrel.

Rival PetroChina Co. said Friday it would also lift spending on exploration and production in 2018, by 3.5 percent, despite a drop in fourth-quarter earnings. (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn