CANBERA (dpa-AFX) - China Petroleum & Chemical Corporation or Sinopec Corp. reported that its interim IFRS profit attributable to shareholders of the company for the first half of 2024 was RMB 37.079 billion, up 2.6% year-on-year. Basic earnings per share were RMB 0.307, up 2.0% year-on-year.
In accordance with IFRS, the company's operating revenue for the first half of 2024 reached RMB 1.58 trillion.
The company's oil and gas output in the first half reached approximately 258 million barrels of oil equivalent, up 3.1% year-on-year. Natural gas production reached approximately 700.6 billion cubic feet, up 6.0% year-on-year; refinery throughput was 127 million tonnes, up 0.1% year-on-year; total sales volume of refined oil products was approximately 119 million tonnes, up 2.1% year-on-year; ethylene production was 6.496 million tonnes.
The Board of Directors has resolved to distribute an interim cash dividend of RMB 0.146 per share.
The Board proposed the profit distribution plan for the next three years (2024-2026). Pursuant to it, the cash dividends payout ratio shall be not less than 65%.
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