China Petroleum Announces Multi-Year Dividend Plan

China Petroleum & Chemical (HK:0386) has released an update.

China Petroleum & Chemical Corporation has announced a Dividend Distribution and Return Plan for its shareholders for the years 2024-2026, aiming to distribute not less than 65% of its net profits in cash, subject to positive net and accumulated profits, and sufficient cash flow. The plan is contingent on shareholder approval at the general meeting and may be adjusted in exceptional circumstances such as natural disasters or significant operational changes. This initiative underscores the company’s commitment to enhancing shareholder value through consistent dividend payouts.

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