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Santos 2018 Underlying Profit More Than Doubles

Santos Ltd. (STOSF.PK,SSLTY.PK,STO.AX) reported that its underlying profit after tax for 2018 more than doubled to US$727 million from US$318 million in the prior year.

Net profit after tax was US$630 million, compared to a loss US$360 million last year.

Product sales grew to US$3.660 billion from US$3.100 billion in the prior year.

The Board has resolved to pay a 2018 final dividend of US6.2 cents per share fully-franked, in line with the company's sustainable dividend policy which targets a range of 10% to 30% payout of free cash flow.

The final dividend will be paid on 28 March 2019 to registered shareholders as at the record date of 27 February 2019.

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