On March 25, China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") announced its annual results for the twelve months ended 31 December 2018.
Over the past year, the Company’s profitability increased significantly. In accordance with the International Financial Reporting Standards, the Company’s turnover and other operating revenues reached RMB 2.89 trillion. Profit attributable to equity shareholders of the Company grew by 20.2% year on year to RMB 61.6 billion, while the year-end liability-to-asset ratio was 46.21%. Taking into account the Company’s profitability, shareholder returns and the future development, the Board of Directors proposed a final dividend of RMB 0.26 per share. Combined with the interim dividend of RMB 0.16 per share, the total dividend for the year is RMB 0.42 per share with a dividend payout ratio of 82.5%.