China Petroleum & Chemical Corporation or Sinopec Corp. reported that its IFRS net income attributable to shareholders of the company for fiscal year 2024 declined to RMB 48.939 billion from last year's RMB 58.310 billion. On a per share basis, IFRS net income was RMB 0.404 down from RMB 0.487 in the prior year.
"In 2024, international crude oil price fluctuated with downward trends, domestic new energy substitution in traffic industry accelerated, new production capacity in the chemical market continued to release, and the gross profit of chemicals narrowed significantly," the company said.
Annual revenues declined to RMB 3.075 trillion from RMB 3.212 trillion in the prior year.
The Board approved the proposal to distribute a final cash dividend of RMB0.14 per share for 2024. Taking into account the distributed interim dividend of RMB0.146 per share for the first half of 2024, the total dividend for the whole year is RMB0.286 per share.
The final cash dividend will be distributed on or before Friday, 27 June 2025 to all shareholders whose names appear on the register of members of Sinopec Corp. on the record date of Tuesday, 17 June 2025.
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